Uponor hits targets in 2006 results

Plastics pipes group Uponor achieved its long-term financial targets in 2006, the company said in its announcement of full-year results. Consolidated net sales at the company, which has been going through a lengthy restructuring, were €1.16bn, up by 12.2% from €1.03bn in 2005. Sales growth was good in all regions apart from North America, where the rise was modest due to weak demand in housing construction during the second half. Like-for-like operating profit improved by 16.8% to €143.7m. This was mainly due to the increased sales, higher sales prices compensating for higher raw material costs and the improved production cost structure resulting from the restructuring programme. Chief executive Jan Lång said: “We achieved our long-term financial targets, published in 2003, during the 2006 financial year and made good progress in implementing our strategic agenda.” He said the company expects overall construction activity in 2007 to slow down slightly in the main markets.

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