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Genuit holds guidance as revenues rise
(Sharecast News) - Pipe maker Genuit held annual guidance after an 8.5% rise in revenue from the first four months of the year and added that it was not directly exposed to US tariffs. Chief executive Joe Vorih said all of Genuit's business units delivered organic sales growth for the first four months and the company "secured some positive share gains in a competitive market" with "encouraging" signs of growth in the UK market.
"Whilst we recognise the broader macroeconomic backdrop remains uncertain, Genuit is not directly exposed to changes in trade tariffs and is well positioned to navigate this near-term environment. Over the medium-term, we remain confident in out-performing the market due to our strong exposure to sustainability-linked growth drivers."
Group revenue for the period rose to £199.3m from £183.7m "albeit against a low comparator", the company, formerly Polypipe, said in a trading statement on Monday.
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