Wavin: Strong organic growth in second half of 2006

Plastic pipe manufacturer Wavin has announced today strong revenue growth for 2006 and forecasts a year total of €1.5bn, an increase of approximately 13% on 2005. The company, which is headquartered in Zwolle, the Netherlands, said it expects an Ebita profit in the range of €192-197m. Wavin said it is expecting a 10% increase in second half organic revenue growth, compared with last year’s performance during the same period. The company said revenue growth had been seen in both its business units – Building and Installation, and Civils and Infrastructure. In a statement, the company said that it had seen significant revenue growth in Central and Easter Europe, with signs of a recovery in the German market. “In the UK/Ireland, our largest region, we have seen steady growth in the UK, and continuing high building activity levels in Ireland,” the company said. Wavin also said that the integration of Hepworth Building Products was “proceeding successfully”. The Dutch company completed its purchase of Hepworth from Germany’s Vaillant in 2005. The acquisition gave Wavin a turnover boost of more than 20%, and gave the company access to Hepworth’s clay and concrete pipes.

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