StockMarketWire.com - Water and climate management group Polypipe scrapped its 2019 final dividend and withdrew its financial guidance in the wake of the Covid-19 crisis.

The company was planning to pay an interim dividend of 8.1p per share.

'It is clear that both revenues and profits will be adversely impacted in the coming months by the decision to wind down operations and by the effect of Covid-19 on our end markets,' Polypipe said.

'In response, we have implemented a range of measures to reduce costs and conserve cash during this period, including utilisation of the job retention scheme and other measures announced by the government.'

Polypipe said its Nuaire business was manufacturing ventilation for the Royal Marsden Hospital and was receiving urgent enquiries from many other National Health Services sites for those as well as other essential projects.

Its building products business has been requested to manufacture special pipe for emergency medical use.

At 2:56pm: [LON:PLP] Polypipe Group PLC share price was +26.5p at 436.5p



Story provided by StockMarketWire.com