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Investing.com -- Shares of Genuit Group PLC (LSE:GEN) edged up 1% following the release of their financial results for the year ended December 31, 2024.
Despite a year-on-year (YoY) revenue decline of 5.3%, with revenue falling to £561.3 million from £586.5 million in the previous year, the stock moved positively. The company’s underlying operating profit also saw a decrease to £92.2 million, representing a margin of 16.4%, down from £94.1 million or a 16% margin in 2023.
The slight uptick in Genuit Group’s stock appears to be a response to the company’s performance aligning with the lower end of analyst expectations, as previously indicated in their trading update. The forecast had projected an adjusted EBIT of £92-94 million.
RBC analysts commented on the results, stating, "Once underlying market volumes begin to recover, we believe GEN is well positioned for volume growth. This is generally in line with expectations for a slightly flat to down year in 2024, with volumes expected to recover and drive growth in 2025E."
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