Wavin, the Dutch manufacturer of plastic pipes and fittings that has substantial operations in Ireland, expects full-year profits to be around €1.5 billion, a rise of 12-13 per cent compared to 2005.

In a trading update ahead of its annual results in March, the company said organic growth in the second half of the year was expected to be more than 10 per cent ahead of the previous year.

Full-year earnings before interest, taxes, depreciation and amortisation for 2006 is expected to be in the range of €192-€197 million, up 17 to 18 per cent on the previous year. But the company declined to make statements about 2006 net profit.

As a result of its IPO on the Euronext Amsterdam exchange in October, Wavin said it had significantly reduced its net debt to €650 million. Analysts said Wavin's full-year estimates confirmed their expectations and they reiterated that Wavin's discount to competitors was too high. Wavin said it had seen continuing high building activity levels in Ireland, where it has a manufacturing and distribution facility in Balbriggan, Co Dublin and distribution centres in Cork and Lisburn, Co Antrim.

The company is Ireland's largest manufacturer and distributor of plastic pipes and fittings and provides more than 3,000 products for the building, construction and farming industries, local authorities and State utilities. Over the past five years it has invested almost €10 million in plant and equipment in Ireland, including the extension to its production facility and a new distribution and logistics centre in Balbriggan. The company employs around 180 people in Ireland, where it has had a presence for nearly 50 years.

Wavin is headquartered in Zwollem in the Netherlands and employs about 7,300 people.