Genuit shares spike on improved earnings guidance
Genuit Group
383.50p
16:45 23/12/24
-0.39%
-1.50p
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
12,006.95
17:09 23/12/24
0.07%
8.27
FTSE 250
20,419.09
17:09 23/12/24
n/a
n/a
FTSE 350
4,471.06
17:09 23/12/24
n/a
n/a
FTSE All-Share
4,428.73
16:44 23/12/24
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