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Polypipe (PLP)

Business description

Polypipe is a leading European supplier of plastic building products and ventilation systems. UK operations address a broad range of sectors including residential, commercial and civil building demand and a number of subsectors within them.

Stock data

Market cap.£648.9m
Last close324.80p
High / Low (52 weeks)424.2p / 319.4p
Stock market listingLN
Forecast net debt (£m)82.1
Forecast gearing ratio (%)23
TeamIndustrials
SectorGeneral Industrials

Price performance

%1m3m12m
Actual(14.2)(16.3)(21.7)
Relative *(10.7)(9.3)(16.7)

* % Relative to local index

Other companies in sector Show

Company news

Broker Forecast - Berenberg issues a broker note on Polypipe Group Plc

Fri, 11 May 2018 17:03:45 GMT

How Does Polypipe Group plc (LON:PLP) Fare As A Dividend Stock?

Sat, 12 May 2018 01:52:30 GMT

Polypipe shares worth around 70p more - Peel Hunt

Tue, 15 Nov 2016 10:39:48 GMT

TOP NEWS: Polypipe Poaches Dixons Carphone Financial Controller As CFO

Wed, 27 Sep 2017 16:07:30 GMT

Why I'd Buy Polypipe Group PLC, Watch Reckitt Benckiser Group Plc And Sell BT ...

Wed, 05 Aug 2015 13:41:15 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2016A 387.2 84.5 60.9 24.6 13.2 8.2
2017A 411.7 88.3 65.7 26.9 12.1 7.3
2018E 433.0 92.9 70.1 28.7 11.3 6.9
2019E 443.5 96.4 73.6 30.1 10.8 N/A

Last updated on 21/09/2018

Investment summary

A flat y-o-y revenue performance in H118 and slightly lower profitability essentially reflected the impact of a period of adverse weather constraining sales and the associated profit drop through in the period affecting both divisions. Residential did relatively well with the new housebuilding sub sector continuing to show strength, while RMI was flat to slightly down overall. Commercial & Infrastructure experienced a lower sales run rate in both the UK (mainly contract award lags) and overseas (lower Middle East activity). With Residential rebounding well in the final two months of H1 and indications of project awards picking up, both divisions entered H2 with better momentum supported by ongoing investment in new products and production equipment. Underlying cash flow showed some improvement compared to the prior year and proceeds from the disposal of the company’s French operations limited the seasonal net debt increase to modest levels.

Last updated on 28/09/2018

Industry outlook

Construction Products Association estimates currently project slightly lower output from the UK construction sector in 2018. Private housebuilding is expected to be a positive driver, road infrastructure neutral with slower commercial activity the primary drag in Polypipe’s main sectors.

Last updated on 28/09/2018

Key management

Martin Payne, CEO
Paul James, CFO

Company address

Broomhouse Lane
Edlington
Doncaster
DN12 1ES
United Kingdom