Genuit Group plc (GEN.L), in its 10-month trading update, said its Group revenue slid 6.4 percent on reported basis, while it was 7.1 percent lower on like-for-like basis. On the same basis, revenue was down 1.8 percent for the four-month period.
The company. which provides sustainable water, climate, and ventilation products for the built environment, posted revenues of 471.7 million pounds for the ten months ended 31 October 2024. This compares to 504.2 million pounds reported for the same period last year.
The Group said its trading performance has been resilient since the interim results were reported in August.
Year-to-date, revenues from Climate Management Solutions were down 2.6 percent, while revenues from Water Management Solutions slid 7.4 percent. Revenues from sustainable Building Solutions declined by 7.4 percent.
With market conditions expected to remain subdued through the remainder of 2024 and into 2025, the company said, it expects full-year underlying operating profit to be broadly in-line with the lower end of analyst expectations.
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