David Hall of Polypipe
Leading plastic piping manufacturer Polypipe saw pre-tax profits rise 5.3% to £31.5m during the first half of the year.
Edlington-headquartered Polypipe got off to a record start for the first half of 2017 with pre-tax profits rising by 5.3% to £31.5m.
The leading plastic piping manufacturer also saw total revenue rise 8.4% to £242m, in line with management expectations.
Looking forward, the company stated that market fundamentals continue to be robust however it remains alert to potential impact from uncertainties arising from the recent UK election and Brexit negotiations.
Chief executive officer David Hall said: “The group has delivered another record performance, building on the strong momentum from last year and demonstrating that our strategic focus on structural growth opportunities is delivering results.
“Although underlying fundamentals remain positive, the group has experienced varying conditions in its different markets and has also faced some challenges in the first half of the year.
“I am encouraged by the way the business has risen to these challenges which is further evidence of the depth and strength of management across the group.
“As a result of our growth initiatives, balanced exposure to our markets and overall performance, the board is confident that the group will continue to make progress in line with management expectations for the year.”
Hall, who has led Polypipe since 2005, is set to retire in October when Martin Payne, the group's chief financial officer, steps up to take on the role.