The UK property market should provide the backdrop for a buoyant set of maiden results from plastic piping manufacturer Polypipe (PLP). The Doncaster-based company, which floated last April, specialises in drainage, plumbing, ventilation and water management for residential and commercial construction - two sectors that are benefiting from the strong housebuilding sector.
In a November trading statement, chief executive David Hall said full-year results would come in at the top end of market expectations, thanks to a vibrant UK market and initiatives to grow sales in water management and carbon efficiency. Those strengths were expected to more than offset troubles in Polypipe's mainland European business, which continues to be hampered by a weak French housing market. The construction of new homes in France was down 6 per cent in the nine months to 30 September. That's likely to send revenues in the unit crashing - although management reckons efforts to bring down costs will keep profits intact.