StockMarketWire.com - Climate management solutions group Genuit upgraded its outlook on annual performance after it reported higher first-profit profit thanks to a boost from acquisitions.

The company said it now expected that underlying operating profit for the full year will be 'ahead of previous management expectations.'

For the six months ended 30 June 2021, pre-tax profit rose 7.6% to £33.8 million year-on-year as revenue increased 32.4% to £295.6 million.

'The three acquisitions made during the period (Adey, Nu-Heat and Plura) have performed well to date with Adey exceeding expectations and integration of these businesses into the group is proceeding well,' the company said.

The company maintained its interim dividend at 4.0 pence per share.





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