Genuit warns full-year profit will miss expectations, shares slump 15%
Genuit now expects underlying operating profit of about £84m for the year, below the £91m to £96m consensus. Shares fell 15%, Sharecast reported.
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what happened
UK building products maker Genuit said revenue for the nine months to 30 September rose 3.5% on a reported basis to £464.5m, but fell 4.3% on a like-for-like basis. According to Sharecast, the heating businesses were the weakest, hit by unseasonably warm weather and expected interest rate rises. The company now expects full-year underlying operating profit of around £84m, against consensus of £91m to £96m. By 08:18 BST, the shares were down 15% at 245.80p.
why it matters
For markets the update is a read on UK construction and renovation demand. The downgrade suggests that high borrowing costs are still weighing on orders, while regulatory and infrastructure spending is expected to support the business mainly from next year.
market impact
UK building materials: weaker demand and rate expectations pressure the sector and Genuit shares
tags
instruments
sources
- Genuit warns FY profit will miss market expectations, shares tumble — Sharecast, 20 October 2026 at 07:22 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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