Genuit Group - Outlook maintained
Revenue momentum has remained strong well into H221 and Genuit’s profit expectations for FY21 are in line with the market’s. The company’s share price has retraced to start-year levels recently (and underperformed the FTSE All-Share Index by 10% in the last month), with no change to business fundamentals in our view. While short-term challenges (such as supply chain strains) are present, we consider that overall market risk is lower now compared to the lockdown-driven uncertainties of 2020.Polypipe Group manufacturers piping systems, water management solutions and ventilation systems for residential, commercial, civils and infrastructure, and public non-housing sectors in the U.K. and other selected markets. Co.'s segments are: Residential systems, which cover among other, above-ground drainage, storm water drainage, sewer drain, and water supply; Commercial and infrastructure systems - U.K., which cover among other, above-ground drainage, surface water drainage, storm water drainage, and land drainage and irrigation; and Commercial and infrastructure systems - Mainland Europe, which cover electrical ducting and conduit, irrigation piping systems, and pressure systems.
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