PLASTIC pipe maker Polypipe said stronger demand from housebuilders in the regions helped to propel a small rise in sales for the half year, despite sluggish demand from doer-uppers.
About half of the Doncaster-based company’s revenue comes from the UK residential sector and the group said sales to this part of the market were 4.8 per cent higher for the six months ended June.
Higher demand for pipes from large housebuilders in the first part of the year and stronger demand from builders outside London in the latter part of the period underpinned the rise.
However, sluggish demand for home improvements among Britain’s homeowners – hampered by lower remortgage activity and second hand home sales – weighed down on the results.
Group turnover was up 1.3 per cent higher adjusted for working days and overall group operating profits rose 12.8 per cent to £25.6m, adjusting for exceptional items.