Genuit Group PLC (FRA:0P5)
€ 4.78 0.02 (0.42%) Market Cap: 1.21 Bil Enterprise Value: 1.40 Bil PE Ratio: 45.47 PB Ratio: 1.72 GF Score: 76/100
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Half Year 2019 Polypipe Group PLC Earnings Call Transcript

Aug 13, 2019 / 08:00AM GMT
Release Date Price: €4.26 (-2.96%)
Martin K. Payne
Polypipe Group plc - CEO & Executive Director

So good morning, everybody, and welcome to Polypipe's 2019 Interim's Presentation. I'm Martin, Payne, Chief Executive. I've got with me today Paul James, Chief Financial Officer; and Glen Sabin, Chief Operating Officer; and Emma Versluys, Group Legal Counsel.

So just to introduce, I think we've had a strong first half performance. Revenue, 6.2% higher with a strong contribution from our recent acquisitions. Within that Residential Systems revenue of 8.4%, with again Manthorpe performing very well. I'll talk a bit more about that later on. Commercial infrastructure revenue up 3.4%. That's despite some challenging conditions in the U.K. market in this particular sector. I'm also very pleased to say that we've improved margins by 30 basis points to 17.6% in the half, and we've resolved the half 2 2018 inefficiencies that we experienced due to some capacity constraints in our Broomhouse Lane plant. And then through the first half we've also implemented some selective cost reductions. The second half started well. So I'm encouraged by

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