Genuit Group maintained its full-year expectations after first-half underlying operating profit fell 1.6% to £43.9 million. Reported revenue rose 3%, helped by acquisitions, while like-for-like revenue declined about 5% amid subdued construction demand and higher polymer costs. The company flagged a £1.5 million slow-moving stock provision and an approximately £0.8 million supplier-related impact at its Adey business, both of which are not expected to recur. Management expects second-half margins to benefit from pricing actions, productivity gains, and the resolution of Adey issues, and is advancing a simplification programme expected to deliver more than £4 million in annualised savings from 2027. The interim dividend was held at 4.2 pence per share.
Genuit Group plcFirst-half profit dip but full-year outlook maintained; mixed results with cost pressures and savings plan.
Gen Digital Inc.Supplier-related impact at Adey business mentioned as a cost issue.
