Genuit shares spike on improved earnings guidance
Genuit Group
432.00p
16:34 25/04/24
-0.46%
-2.00p
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
9,698.52
17:09 25/04/24
-1.45%
-142.36
FTSE 250
19,601.98
17:09 25/04/24
n/a
n/a
FTSE 350
4,434.34
17:09 25/04/24
n/a
n/a
FTSE All-Share
4,387.94
16:49 25/04/24
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