British Polythene BPI Interim Management Statement

  British Polythene (BPI) - Interim Management Statement

RNS Number : 3723Q
British Polythene Industries PLC
06 November 2012




6 November 2012

                       BRITISH POLYTHENE INDUSTRIES PLC

                         INTERIM MANAGEMENT STATEMENT

British Polythene Industries PLC issues today the following Interim Management
Statement in respect of the period to 6 November 2012.

We indicated  at the  time of  our Interim  Statement on  27 August  that  our 
business was capable of delivering results  for the remainder of 2012  similar 
to 2011. The outcome for the third quarter met our expectations.

The volume shortfall that we  experienced in the first  six months was not  as 
pronounced in the third quarter when volumes were less than 1% behind 2011 due
to better sales of  silage stretchwrap which has  benefited from good  growing 
conditions in the third quarter.

We indicated that  the polymer  suppliers had imposed  dramatic increases  for 
August and  further increases  were subsequently  applied in  September.  This 
moved the European  price well above  global levels and  we started to  detect 
erosion in polymer prices in October which has continued in November. However,
the net result is an increase in  price from the summer, leaving the  European 
price still well above prices available in the Far East.

Business is far  from easy,  but the  Group has  taken a  number of  difficult 
decisions over the  last few years,  and this puts  us in a  good position  to 
withstand the current  economic conditions. With  two-thirds of our  business 
focused on  agriculture and  the retail  food  chain, we  are well  placed  to 
continue delivering sound results.

We continue to expect our performance for the year to be in line with 2011.

Cameron McLatchie

Chairman

Enquiries: 



Cameron McLatchie           01475 501000
Chairman
John Langlands
Chief Executive             01475 501000
Charlie Palmer/Clare Thomas
FTI Consulting             0207 831 3113



                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


IMSQELFBLFFZFBE -0- Nov/06/2012 07:00 GMT
 
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