- Sustainable water solutions group Genuit reported higher revenue in the four months ended October following 'strong' demand from its UK residential new build, RMI and infrastructure markets.

For the four months ended 31 October 2021, revenue grew 31.1% to £207.6 million compared with the equivalent period in 2019.

Looking ahead, the company expected earnings before interest and taxes, or EBIT, to be in the range of analyst expectations of £92.5 to £95.9 million.

'The group has acted decisively to counter ongoing cost inflation in the second half, and although the necessary pricing actions have been taken, the normal lag effect means that the operating margin for the second half of the year will be lower than H1 2021,' the company sad.

'Margins are expected to recover in early 2022 as those lag effects work through,' it added.

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