IN BRIEF: Genuit names former Spirax-Sarco CFO as new chair next month

Wed, 19th Oct 2022 07:30

Genuit Group PLC - Leeds, England-based plastic pipes manufacturer formerly known as Polypipe - Says Kevin Boyd will be made chair with effect from November 1. He will succeed Ron Marsh, who will step down on December 31. Boyd joined the board in 2020, and was previously the chief financial officer of Spirax-Sarco Engineering PLC, and the group finance director for Oxford Instruments PLC, both fellow FTSE 350 companies.

Boyd says: "I am delighted to have been appointed chair of Genuit and look forward to working with the board and the senior management team as we embark on the next stage of the group's development."

In August, Genuit reported a 7.6% rise in revenue to GBP318.0 million for the six months that ended June 30 from GBP295.6 million a year prior. It said pretax profit slipped 2.7%, however, to GBP32.9 million from GBP33.8 million.

Current stock price: 284.00 pence

12-month change: down 59%

By Xindi Wei; xindiwei@alliancenews.com