StockMarketWire.com - Plastic piping and ventilation system manufacturer Polypipe Group said its revenue had increased 10.2% in the fourth months through October on a like-for-like basis.

Trading was in line with expectations and the company's outlook for the full year was unchanged, it added.

For the 10 months through October, revenue was up 4.5% on-year at £365.9m, and 4.1% higher on a like-for-like basis.

The more recent increase in the revenue growth rate was driven by organic growth in the residential systems unit, together with a significant improvement in commercial and infrastructure systems.

Second-half operating margins would be higher than in the equivalent period in 2017, driven by improved profit performance in the Middle East following the closure of a manufacturing facility and operational leverage on higher volumes.

'This performance will deliver full year profits in line with management expectations,' Polypipe said.






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