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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.£638.9m
Last close319.80p
High / Low (52 weeks)424.2p / 307.8p
Stock market listingLN
Forecast net debt (£m)82.1
Forecast gearing ratio (%)23
TeamIndustrials
SectorGeneral Industrials

Price performance

%1m3m12m
Actual(12.9)(15.5)(15.5)
Relative *(9.4)(7.7)(6)

* % 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 13.0 8.0
2017A 411.7 88.3 65.7 26.9 11.9 7.2
2018E 433.0 92.9 70.1 28.7 11.1 6.8
2019E 443.5 96.4 73.6 30.1 10.6 N/A

Last updated on 27/11/2018

Investment summary

A 10-month trading update (to end October) indicated that like-for-like revenue growth in the first four months of H2 was ahead of that seen in H1 as a whole in both of Polypipe’s reporting divisions. The comparable figures for Residential Systems are +5.5% H1, +11.5% H2 to date, +8.1% ytd and for Commercial and Infrastructure (C&I) -6.9% H1, +8.6% H2 to date, -0.6% ytd. Both divisions saw some impact from a period of bad weather in H1, so there is likely to be an element of rebound in the latest data but there has been a clear pick up in C&I activity levels also. The acquisitions of Manthorpe and Permavoid will add to underlying business momentum and the renewal of group debt facilities is a logical follow on from these deals. Our estimates are under review.

Last updated on 29/11/2018

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 drivers, road infrastructure neutral with slower commercial activity the primary drag in Polypipe’s main sectors.

Last updated on 29/11/2018

Key management

Martin Payne, CEO
Paul James, CFO

Company address

Broomhouse Lane
Edlington
Doncaster
DN12 1ES
United Kingdom