19th May 2025 08:56
(Alliance News) - Genuit Group PLC on Monday reported revenue growth across all its business units during the first four months of 2025 and maintained its full-year outlook ahead of the group's annual general meeting on Monday afternoon.
The Leeds, England-based provider of water, climate and ventilation systems for buildings and infrastructure said group revenue for the four months that ended April 30 was GBP199.3 million, rising 8.5% from GBP183.7 million the year before.
Revenue within its Climate Management Solutions arm, which makes up around 31% of total group revenue, was 9.0% higher on-year during the four-month period. Genuit noted continued strong growth in residential ventilation and "improving" commercial sales at its Nuaire unit.
Within its Water Management Solutions division, which accounts for roughly 28% of group revenue, the company recorded 9.6% on-year growth in revenue, as demand for storm water attenuation solutions increased on the back of drier spring weather.
Contributing around 40% of group revenue, Genuit's Sustainable Building Solutions sector report growth of 8.2% from a year before, benefiting from market share gains following the exit of a competitor in the UK drainage market.
The remaining around 1% of group revenue comes from Polypipe Italia, which is not part of Genuit's strategic business units.
"We maintain our outlook for the full year with the group trading in line with expectations during the first four months of the year and the UK market showing some encouraging signs of recovery," said Chief Executive Officer Joe Vorih.
"Each of our business units has delivered organic sales growth for the first four months and we have secured some positive share gains in a competitive market. We are also making strong progress on the continued deployment of the Genuit business system to drive productivity."
Genuit said it anticipates some margin dilution during its first half due to increases in National Insurance contributions and the minimum wage in the UK, but it is focused on mitigating this impact via productivity gains, and balanced cost and price management.
Genuit will release its interim results for the six months ending June 30 on August 12.
CEO Vorih continued: "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."
Broker Peel Hunt has forecast GBP572 million in revenue for Genuit in 2025, which would be up 1.9% from GBP561.3 million in 2024. It forecasts pretax profit of GBP69.0 million, up 49% from GBP46.3 million.
Shares in Genuit were up 2.5% at 412.00 pence each in London on Monday morning. The stock remains down 10% over the past year.
By Emily Parsons, Alliance News reporter
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