01 March 2010 10:23 [Source: ICIS news]
Correction: In the ICIS news story headlined “British Polyethylene posts 2009 net profits of £8.1m” dated 1 March 2010, please read the headline as “British Polythene posts 2009 net profits …” instead of “British Polyethylene …”
LONDON (ICIS news)--British Polythene Industries (BPI) described current market conditions as “challenging” as it revealed full-year 2009 net profits of £8.1m ($12.3m, €9m), up from the £2.8m it earned in 2008, the plastics processor said on Monday.
Full-year sales were down 11.6% year on year at £425m, BPI said.
BPI said the defensive sectors of its business – agriculture, retail food and related transit packaging, healthcare and refuse sacks – remained resilient to the downturn.
Although demand was still weak in construction, industrial and non-food retail markets, it was not worsening, BPI added.
“And with our capacity more in line with this demand, we expect to stem the losses from the industrial part of our ?xml:namespace>
After that time, the company said it should start to see the full benefits of a major plant closure in the
(£1 = $1.52/£1 = €1.12)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|