The storm of uncertainty surrounding next week’s Budget claimed another victim today when shares in pipes, ventilation and heating company Genuit slumped on a profit warning.
The FTSE 250 business, formerly known as Polypipe, downgraded its guidance for underlying operating profits for the year to as a result of a slowing demand “driven by purchasing uncertainty relating to the November Budget. “ Shares in Genuit fell 41p, or 11.5%, to 314p.
