BPI expects to wrap up solid first half

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PACKAGING specialist British Polythene Industries (BPI) is confident that its annual results will meet market expectations after overcoming a “slow” start to the year at its agricultural division.

The Greenock-based group said the colder-than-normal spring had depressed demand, but trading at its agricultural wraps business has proved “resilient”, and overall volumes for the first half should be in line with last year.

BPI, headed by chief executive John Langlands, said raw material costs had risen this month, having eased in April and May, but its results for the six months to 30 June should be “comfortably ahead” of the same period last year, when it delivered a pre-tax profit of £13.3 million.

John Lawson, an analyst at Investec, said: “BPI has shown itself to be extremely good at managing any raw material volatility.”