We design, develop and manufacture the most comprehensive range of plastic piping products in the UK, with over 20,000 products available. Our primary focus is on developing and supporting pragmatic product systems through specific knowledge and understanding of the residential, commercial, civils and infrastructure market sectors. We ensure that customers can trust our significant sales and technical expertise to provide value engineered, fit for purpose piping solutions for the growing diversity and complexity of construction and building technology challenges they face. -

Last year Polypipe generated sales of £301m and adjusted cash profits of £54m, giving an adjusted operating margin of 18 per cent.

Polypipe’s birth as a publicly-listed company comes at a time when the Construction Products Association is estimating that spending on roads, water and sewage, electricity and rail is expected to grow by 8.3 per cent this year, and rising in 2015 by 18.2 per cent. And on the house construction side, output is expected to grow to pre-recession levels some time next year. Given its strong position as the UK’s leading plastic pipe manufacturer, the company could be an interesting one to watch.

http://www.polypipe.com/

good trading update, surely likely to be benefitting big time with the level of construction now picking up.

24 Jul Deutsche Bank 277.00 Hold

Canaccord Genuity Buy 246.88 244.00 - 281.00 Initiates/Starts

Interim Result
18 Aug 14 Polypipe Group Plc Ords 0.10p [PLP]

Half Yearly Report


Financial Highlights



· Delivering the strategy set out during successful IPO in April

· UK construction market recovery combined with strategic focus on structural growth opportunities led to revenue growth in the UK of 12.9% (Group 11%) over H1 2013

· Improved UK volumes resulted in Group operating profit increasing by 29% to £22.7m1

· Refinancing of Senior Secured Notes successfully completed; significantly reducing future financing costs

· Maiden interim dividend of 1.5 pence per share





Operational Highlights



· Strong demand for residential piping systems from UK housebuilders, increasingly from smaller developers and projects outside of London and the South-East

· Good demand from road and rail projects and the development of high rise, multi-occupancy buildings in London

· Sharp increase in sales of Water Management Solutions, driven by the growing need for flood alleviation schemes

· Strong sales growth in the Middle East and to mining infrastructure projects in Africa



http://www.moneyam.com/action/news/showArticle?id=4869837

18 Aug Canaccord... 281.00 Buy
18 Aug Numis 300.00 Buy

Plus Deutsche 18 Aug, hold 278

13 Oct Deutsche Bank 278.00 Hold

30 Oct Deutsche Bank 278.00 Hold

Dreamcatcher,

You seem to push an amazing number of companies.

On average, how long do you hold them before, or after your postings?

It would be interesting to see the trading spread on some of them.

Just interested.

I personally look at tips, but steer clear of many of them.

No set rules Fred1new. Many are up and coming comps. Some have tailed off and am waiting good re-entry points. Others are long holds due to the current market conditions. I can generally see by the counters that hopefully the threads attract reading interest. The share tips thread is just for a read and may give some readers some ideas.

No relationship with doodlebug?

No.

Interim Management Statement


UK Operations



Revenue in the ten month period ended 31 October 2014 was 13.3% ahead on the prior year as we continued to experience strong market demand in the residential, commercial and infrastructure sectors. We also continued to benefit from our growth initiatives in the areas of Water Management and Carbon Efficient Solutions. The growth rate for the four month period ended 31 October 2014 of 12.1% was achieved against tougher comparables than in the first half of the year, particularly in the Commercial and Infrastructure division. This division also experienced lower growth in export sales during the four month period ended 31 October 2014 as a result of the timing of the seasonal holiday period in the Middle East.



Operating margins in both divisions remain ahead of the prior year after ten months and we expect the full year operating margin percentage for the UK Operations will be in line with the last financial year. The overall operating leverage effect in the second half will be less marked than during the first half due to higher public company operating costs following our IPO in April 2014. During the comparable period in 2013, we also experienced some benefit from improved output as a result of building inventories to meet the upturn in demand.



As part of our drive to increase our presence and capability in carbon efficient solutions, on 28 October 2014 we acquired the business and assets of a small UK ventilation business, Ferrob Limited, for an initial consideration of £0.3m plus an earnout which is dependent on the level of revenue in the year following acquisition. Ferrob Limited is focussed on the public sector housing ventilation market and reported revenue of £0.9m for the year ended 31 October 2014.



Mainland European Operations



The majority of revenue in this segment is generated by our operations in France and sold into the French market.



Revenue for the ten month period to 31 October 2014 was down 8.3% on the prior year. At constant exchange rates the revenue decline over this period was 3.4% with housing starts in France, a key revenue driver for this segment, down 5.7% in the nine month period to 30 September 2014. In the four month period to 31 October 2014, revenue was down 17.0% on the prior year's period and down 11.4% at constant exchange rates. The impact of deteriorating market conditions in France has had a limited impact on the Group operating results as we have been able to flex down our costs in line with the lower revenues. After ten months these operations remain marginally profitable. The adverse currency translation effect on earnings does not have a significant impact on the overall Group operating results.





http://www.moneyam.com/action/news/showArticle?id=4925075

19 Nov Canaccord... 281.00 Buy
19 Nov Deutsche Bank 301.00 Hold
18 Nov Numis 300.00 Buy

2 Dec Deutsche Bank 301.00 Hold

Polypipe Group Ords 0.10p broker views

Date Broker Recommendation Price Old target price New target price Notes
04 Dec Numis Buy 264.88 300.00 300.00 Reiterates
02 Dec Deutsche Bank Hold 264.88 301.00 301.00 Reiterates
19 Nov Canaccord Genuity Buy 264.88 281.00 281.00 Reiterates
19 Nov Deutsche Bank Hold 264.88 278.00 301.00 Reiterates

Tipped over the weekend by SCSW, lifted from advfn.