Polypipe changes name to Genuit Group

Doncaster-based piping and ventilation systems firm Polypipe Group said on Tuesday it has changed its name to Genuit Group plc.

“As set out in the announcement on 16 March 2021, Polypipe Group plc is pleased to announce that it has now changed its name to Genuit Group plc,” said the company.

“Trading in the company’s shares will commence under the new name of Genuit Group plc and the new TIDM code ‘GEN’ effective from Wednesday 7 April 2021.

“The company’s existing ISIN number GB00BKRC5K31 and SEDOL number BKRC5K3 will remain unchanged.”

On March 16, the company said the name change was made to reflect the “continued progression of the group, including the development of new product areas and the acquisition of a number of strong trading brands.”

It added: “We remain committed to our customer-facing brands, including Polypipe.”

On March 16, the Doncaster firm gave investors a positive outlook for the year ahead despite its 2020 revenue falling 10.9% to £398.6 million and profit before tax falling 60.4% to £23.8 million.