LEEDS - Genuit Group plc (LSE:GEN) reported revenue of £198.5m for the four months ended April 30, down 0.4% from £199.3m in the prior year period.
The UK water and climate products provider said like-for-like revenue declined 8.7% as wet weather in January and February dampened construction activity. The conflict in the Middle East impacted operations starting in March, driving inflation in polymer and freight costs that intensified in April.
The company implemented double-digit price increases in May on polymer-based products and raised freight charges across its portfolio. CEO Joe Vorih said the group has responded swiftly to cost pressures.
The Climate Division posted a 0.4% year-on-year decline, while the Water Division fell 0.3%. Middle East revenue dropped approximately 50% year-on-year due to the ongoing conflict.
Genuit said underlying operating profit for the first half is anticipated to be in the region of the prior year’s £44.6m. The group is accelerating simplification initiatives targeting £4m to £5m in annualized cost savings.
The board anticipates full-year 2026 underlying operating profit toward the lower end of current analyst estimates. Interim results for the six months ending June 30 will be reported on August 11.
