Business
COVID 19 update
COVID 19 update.
About this update from Genuit Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 6007H\n Polypipe Group PLC\n 25 March 2020\n \n \n \n \n 25 March 2020\n \n \n \n \n \n Polypipe Group plc\n \n \n \n \n \n COVID 19 update \n \n \n \n \n \n Polypipe Group plc (\"Polypipe\", the \"Company\" or the \"Group\"), a leading provider of sustainable water and climate management solutions for the built environment, today provides the following COVID 19 update.\n \n \n Employees, customers and operations\n \n \n The health, safety and wellbeing of our people has always been, and continues to be, at the forefront of everything we do. The Group and its leadership team has a duty of care to its employees and customers, and the evaluation of risk and taking mitigating actions to protect those employees and customers is taken very seriously and is very much ingrained in our culture. In light of recent events and until further notice, we have decided to wind down our operations to that which is absolutely necessary to support the Government in its battle with COVID 19 and keep the economy going. These include the following:\n \n \n ·\n Parts of the Group supporting the National Health Service in very specific roles in increasing capabilities to cope with the inevitable increase in COVID 19 patients. Our Nuaire business is manufacturing ventilation for the Royal Marsden Hospital and is receiving urgent enquiries from many other NHS sites for this as well as other essential projects. \n \n \n ·\n Our Building Products business has been requested to manufacture special pipe for emergency medical use. \n \n \n ·\n On a wider front, it is necessary to keep supplying some of our plumbing and drainage products that are needed for urgent repair and maintenance across the country to keep essential projects and services running.\n \n \n The reduction in our operations will happen over the next few days as, for operational reasons, it is not something that can be done immediately. \n \n \n Current trading and FY20 guidance\n \n \n Trading for the year to date has been in line with expectations, with no material impact on performance from the COVID 19 pandemic so far. However, the decision to wind down operations, and the inevitable but as yet unquantifiable wider impact of COVID 19 on our end markets in the next weeks and months means it is no longer possible to provide financial guida...