Genuit shares spike on improved earnings guidance
Genuit Group
433.50p
15:44 15/11/24
0.23%
1.00p
Shares in Genuit Group spiked almost 8% on Thursday as the plastic pipe and ventilation products maker said annual earnings would be slightly ahead of consensus.
Construction & Materials
12,379.56
15:44 15/11/24
0.53%
65.46
FTSE 250
20,508.75
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
n/a
n/a
In a trading update for the four months to April 30, the company said revenue fell 3.8% to £201, and 4.7% on a like for like basis, driven by an 11% fall in volumes offset by higher prices in response to inflationary pressures.
EBIT consensus as compiled by Genuit, formerly known as Polypipe, is £84m with a range of £70 - £96m.
Reporting by Frank Prenesti for Sharecast.com