Acquisitions accounted for the lion's share of revenue growth for Polypipe (PLP) during the first-half as last year's purchases of Manthorpe and Permavoid brought the plastic piping manufacturer closer to its goal of becoming a one-stop shop for customers. Like-for-like revenue was up just 1 per cent, compared with an overall growth rate of 6 per cent. There is “plenty in the pipeline” for chief executive Martin Payne, who said he was seeking to fill both product gaps and leverage the group’s skills base internationally via more mergers and acquisitions.
Polypipe hopes to continue benefiting from the “legislative tailwinds” that commit developers to improved water and climate management, said Mr Payne, which should widen the market for ventilation and piping. A recent £1m investment in land next to the Broomhouse Lane factory increased operating capacity. This - in addition to a UK housing shortage, historically low interest rates, and the government’s Help to Buy scheme - could pave the way for further growth.
