Plastic piping and ventilation systems manufacturer Polypipe has reported record financial results and said there was “no discernible impact of the EU referendum” on its end markets.
Revenue for the year to 31 December 2016 was 23.8 per cent higher at £436.9m. UK revenue was 10.5 per cent ahead on a like-for-like basis.
Underlying profit before tax was 28.8 per cent higher at £61.8m
“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 chief executive 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.
“The combination of forecast market growth, our focus on executing our strategic development initiatives and resolve to recover input cost inflation mean that we look forward to 2017 being a further year of progression for the group.”