Genuit Group delivers record level of revenue and profit over last financial year

Genuit said this year has started well and the group has traded in line with expectations, although it expects challenging and uncertain market conditions to continue into 2023.

Joe Vorih, the group’s chief executive, said: “As I reflect on my first full year as chief executive Officer of Genuit, I would like to thank our talented and purpose-driven team for delivering a record level of revenue and profit despite considerable inflation, housing market uncertainty and supply chain disruption. As committed, we have improved our pricing processes, begun the simplification of the business to unlock synergies and lower structural costs, and strengthened our sustainability leadership with the adoption of our Science-Based Targets (SBTs) and a reduction in carbon intensity through the year.

“Further, our new Sustainable Solutions for Growth strategy has been well-received by investors and employees alike. We have put in place a new business structure and are focusing on climate-driven long-term investment to deliver above-market organic growth and profitability with clear mid-term targets.

"While short-term market instability will likely remain through much of 2023, our self-help measures, the Genuit Business System, and investment for sustainability-driven growth should position us well to deliver against our financial and strategic commitments.”

Genuit said that extreme weather events continue to occur with increasing frequency, and designers and engineers now need to cater for this in terms of greater rainfall and its associated impact on drainage and surface water management.

Genuit said: “Similarly, our summers are getting hotter, and the need for sustainable cooling solutions has never been greater. We continue to develop innovative solutions across all our businesses to address climate adaptation challenges and improve built environment resilience.”