British Polythene announced preliminary results of 2011

(bpipoly) -- Sales increased to GBR508 million (2010: GBR478 million) and operating profit, before net restructuring, increased to GBR21.6 million (2010: GBR17.9 million) reflecting another excellent performance from our European operations.

Adjusted profit before tax (before net restructuring gains* and net pension financing) rose by 21% to GBR19.1 million (2010: 15.8 million). Adjusted diluted earnings per share were 46.92p (2010: 38.31p), an increase of 22.5%. 

On a statutory basis, the profit before tax was GBR19.2 million (2010: GBR16.7 million).  Diluted earnings per share were 50.25p (2010: 51.07p).

Final dividend per share increased to 8.50p per share (2010: 7.85p), making a total for the year of 12.5p per share (2010: 11.5p). Net borrowings reduced to GBR31.0 million (2010: GBR45.6m).
 

British Polythene Industries (BPI) is one of Europe's largest producers of polyethylene packaging. It's also one of the largest recyclers, touting its firsts in recycling techniques for polyethylene scrap. The company's wares include packaging for consumer care products, frozen foods, snacks, cigarettes, and candy. BPI also makes film products including shrink, stretch, laminate, and coated films designed to protect goods in transit. Industrial products include heavy-duty sacks used by the chemical, horticulture, aggregate, and animal feed industries. BPI's recycled products division makes such items as molded outdoor furniture, refuse and recycling sacks, agricultural, and construction films.

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