The Genuit Group saw its share price rise 1% to 513p in early morning trading on Tuesday after the company reported increased profits and dividends for 2021.
The group reported a £594.3 million revenue compared to £398.6 million in 2020.
The company highlighted an operating profit of £67.1 million against £30.4 million in 2020, alongside a pre-tax profit of £62.9 million against £23.8 million in 2020.
Genuit announced a dividend of 12.2p per share, against 4.8p in 2020.
The company attributed its growth to significant increase in demand and three acquisitions completed in 2021.
“I am delighted to have joined Genuit and pleased to report that the Group has delivered another strong performance, toward the higher end of expectations, despite cost inflation and some supply chain constraints,” said Genuit Group CEO Joe Vorih.
“While challenges remain, our team has taken additional measures to improve price and margins as we enter 2022 and we remain in a strong demand environment.”
“It is also positive that, despite the operating environment, the team completed three strategic acquisitions in the year to broaden the Group’s market offering, and that these are performing well, with Adey already ahead of expectations.”