British Polythene Industries (BPI), the Greenock-based packaging group, today said its full-year results should be at the top end of market expectations, although its volumes are likely to fall short of last year’s total.
The group, headed by chief executive John Langlands, said demand from many of its industrial customers remains subdued, with overall volumes from the retail sectors expected to be flat.
It added: “We currently expect total volumes for 2012 to fall short of 2011, however this shortfall has been less pronounced in the second half.”
One benefit of poor demand has been a slow reduction in raw material prices, although BPI said suppliers are likely to start raising prices from the beginning of next year.
BPI said: “Despite this challenging trading environment, we expect our results for 2012 to be at the top end of market expectations, as we benefit from the structural changes effected in recent years in our UK business, and an excellent performance from our European business.”
The firm is due to publish its results for the year to 31 December on 4 March.