Wavin hit by construction slowdown

摘要

Plastics pipes group Wavin said it will respond to deteriorating market conditions in Europe by accelerating UK restructuring. The Dutch-headquartered group expects revenues in the first half of 2008 to rise by just 1% to around EUR835m. On a like for like basis, excluding the effects of acquisitions and currencies, revenues will be down approximately 3%. Profit margins are also falling.