Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BRITISH POLYTHENE INDUSTRIES. We currently have 6 research reports from 1 professional analysts.
|01Aug16 15:20||RNS||Form 8.3 - British Polythene Industries Plc|
|01Aug16 14:18||RNS||Form 8.3 - RPC Group Plc|
|01Aug16 14:17||RNS||Form 8.3 - British Polythene Industries Plc|
|01Aug16 13:40||RNS||Form 8.3 - RPC Group Plc|
|01Aug16 12:28||RNS||Form 8.5 (EPT/RI) British Polythene Industries Plc|
|01Aug16 12:13||RNS||Scheme Effective|
|01Aug16 10:23||RNS||Holding(s) in Company|
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Research reports on
BRITISH POLYTHENE INDUSTRIES
BRITISH POLYTHENE INDUSTRIES
UK efficiency gains
13 May 16
British Polythene Industries’ (BPI’s) AGM update confirmed the strong start to the year in Q1 continued in April, slightly tempered by some upward pressure in polymer prices latterly . The company has also announced a proposed transfer of activity from its Sevenoaks site to another group facility. The associated £1m exceptional charge in the current year will be matched by the annual profit uplift in subsequent years once completed. This triggers a further upgrade to our estimates and should support a higher share price, in our view.
Strong start to the year
27 Apr 16
British Polythene Industries (BPI) has a seasonally stronger H1 trading pattern and a positive Q1 trading update allows us to upgrade estimates again, having done so after the FY15 results. The previously announced disposal of a Chinese subsidiary has completed on slightly better terms than previous guidance. Despite this progress, BPI’s rating remains stubbornly in single-digit P/E territory.
Steering a steady course
17 Mar 16
British Polythene Industries (BPI) successfully navigated a challenging FY15 trading year to deliver very respectable progress in profitability, earnings and dividends. Management is sticking to its tried and tested formula of investing in the business to enhance capability, market position and product offering and we expect further progress to flow from this.
Out of China
28 Jan 16
British Polythene Industries (BPI) is disposing of its Chinese facility for an expected £9.4m. We estimate this to be modestly earnings enhancing with an expected £4m book profit. UK-oriented revenues will largely be retained and the group’s grow and invest strategy is unaffected by the sale. Valuation multiples are now in single-digit territory with, we expect, a growing yield. FY15 results are scheduled for 29 February
Managing variable demand, maintaining progress
12 Nov 15
An IMS noted maintained FY15 management expectations, despite some weaker areas of demand seen since the interim results. While H2 volume has been softer than anticipated, profitability has been sustained through operating efficiencies, investment and some easing of polymer pricing during the period. On unchanged estimates, BPI’s P/E rating is approaching single-digit levels.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.