Genuit Group PLC (GEN.L), a manufacturer of plastic piping systems, Tuesday reported profit before tax of 31.7 million pounds for the first half, 107.2% higher than 15.3 million pounds in the comparable period last year, mainly due to impairment charges of 12.4 million pounds in the prior year.
Excluding one-time items, underlying profit before tax increased 3.2% to 38.8 million pounds from 37.6 million pounds a year ago.
Operating profit rose 76.1% to 37.5 million pounds from 21.3 million pounds in the prior year. Underlying operating profit increased 2.3% year-on-year to 44.6 million pounds.
Net profit increased to 23.9 million pounds or 9.5p per share from 8.4 million pounds or 3.4p per share last year. Underlying profit grew to 28.9 million pounds or 11.5p per share from 27.7 million pounds or 11.1p per share.
Revenue for the period grew 9.3% to 297.8 million pounds from 272.4 million pounds in the previous year. On a like-for-like basis, revenue increased 6.1%.
The Board has proposed an interim dividend of 4.2p per share, up from 4.1p per share last year, to be paid on October 1, to shareholders of record on August 29.
For the full year, the company expects underlying operating profit to be in line with the consensus estimate of 93 million pounds - 97.7 million pounds.
For comments and feedback contact: editorial@rttnews.com
Business News
June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.