Plastics manufacturer British Polythene Industries (BPI) said an improvement in its UK business helped it grow profits last year and said it expects to keep growing “in 2014 and beyond”.
The Greenock-based firm hailed a “good performance achieved in a challenging economic environment” as it revealed that operating profit increased to £22.5 million in 2012, from £21.6m the year before.
It said the ongoing trend towards thinner plastic bags and sheeting used in industry and agriculture meant its volumes were lower year-on-year. Sales were also down from £508m to £479m.
Chairman Cameron McLatchie said: “We are pleased to report a good performance in 2012 ahead of market expectations and ahead of the good performance in 2011.
“We have seen an improving trend in the returns from our UK business as well as a continued strong performance from our European business.
“The prospects for 2013 look equally good and, with the current capital investment targeting resilient and sustainable markets, prospects for growth in 2014 and beyond are now clear.”