Plastic piping and ventilation systems manufacturer Polypipe Group updated the market on its trading on Tuesday, as investors gathered for its annual general meeting, with the board saying it remained "confident" of delivering its full-year 2018 expectations.
Indivior: Citigroup downgrades to neutral with a target price of 500p.
(WebFG News) - Experian: Deutsche Bank upgrades to buy with a target price of 1,750p.
Deutsche Bank reiterated its 'buy' rating on plumbing and drainage systems manufacturer Polypipe on Wednesday, saying the firm looked set to extend its track record of reliable delivery.
Tube maker Polypipe said a strong UK performance against a challenging backdrop helped it to record a 3.9% rise in full year pre-tax profits to £55.6m.
Polypipe Group is close to selling its French arm to local manufacturing group Ryb for 16.5m cash.
Broker commentary was the main driver behind the jump observed at the end of the week in utility and home construction stocks.
GlaxoSmithKline: UBS upgrades to Buy with a target price of 1550p.
Plastic piping manufacturer Polypipe reported strong organic growth across UK residential and mainland European markets in the ten months to 31 October, putting the firm on track towards management expectations for its full year.
Plastic piping manufacturer Polypipe reported a 5.3% rise in pre-tax profits for the first half of 2017 on Tuesday and reiterated full year guidance.
Piping and ventilation firm Polypipe Group has announced that chief executive David Hall has stepped down after 12 years in the role, with finance chief Martin Payne due to take the reins in October.
Plastic piping and ventilation systems manufacturer Polypipe Group announced its audited results for the year to 31 December on Thursday, with revenue rising 23.8% to £436.9m.
Plastic piping systems manufacturer Polypipe's revenues were up, as the EU referendum did not have an adverse affect on sales and orders, while it anticipates it will meet full-year expectations.
Polypipe chairman Ron Marsh has splashed out £209,138 a month after a the plastic pipe maker's record first-half results failed to inject much sustained momentum in the shares.
Big Oil again lent its heft to the market´s advance after Russia and Saudi Arabia unveiled an agreement to collaborate in the energy space.
Polypipe: Berenberg maintains buy with a 360p target.
Insurance stocks dragged on the London equity market after Admiral reported a drop in its so-called Solvency II coverage ratio at the half-year stage from 206% to 180%, courtesy of a large drop in interest rates which in turn boosted its liabilities, particularly in the case of its unstated PPO exposures, ShoreCap's Eamonn Flanagan said in a research report sent to clients.
Polypipe should not be affected by the result of the EU referendum, as its trading performance during the first half of the year attests, according to the Financial Times' Lex.
Plastic piping and ventilation systems manufacturer Polypipe Group announced its half year unaudited results for the six months to 30 June on Tuesday, with revenue 31% higher at £223.3m.
The wheels of the market turned in favour of cyclicals at the end of the week, following the release of a much stronger-than-expected reading on the state of the US jobs market.