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Annual Results

Polypipe lifts FY pretax profit by 31.1%, divi by 29.5%

30 March 2017 07:41

Polypipe has improved its FY pretax profit to £54.4m, up 31.1% from £41.5m, in what it penned as a record performance.

Revenue gained 23.8% to £436.9m, from £352.9m. The company's dividend per share was 10.1p, up 29.5% from 7.8p.

"Our record performance during 2016 and continuing growth underscores the strength of the Polypipe business model and the robust fundamentals underlying the majority of our market segments," said CEO David Hall.

"In a period of heightened political and market uncertainties, Polypipe continued to focus on its priorities and delivered results toward the top end of our expectations," added Hall.

He said the combination of forecast market growth, Polypipe's focus on executing strategic development initiatives and resolve to recover input cost inflation meant that it looked forward to 2017 being a further year of progression for the group.

Story provided by StockMarketWire.com

Related Company: PLP

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