15
January 2025
Genus plc ("Genus" or the
"Group")
Half Year Trading Update -
Ahead of expectations
Genus (LSE: GNS), a leading global
animal genetics company, publishes the following unaudited trading
update for the six months ended 31 December 2024.
Genus performed strongly in the first
half of FY25 and the Board expects to report Group adjusted profit
before tax of at least £35m in actual currency, which is ahead of
expectations. Since the Group's AGM trading update in November, ABS
has continued to deliver in line with expectations, with adjusted
operating profit growth driven primarily by Value Acceleration
Programme initiatives. PIC has traded ahead of expectations as a
result of greater volume and adjusted operating profit growth in
both the Americas and Asia.
The regulatory process in relation to
the Group's innovative PRRS1 Resistant Pig programme
continues to progress with both the U.S. Food and Drug
Administration and other international regulators.
The Board now expects Group FY25
adjusted profit before tax to be at the top-end of the range of
market expectations2 in actual currency. This includes an expected currency headwind of £8m to £9m in
the 2025 financial year3, as previously indicated.
Genus will announce its interim
results for the six month period from 1 July 2024 to 31 December
2024 on 27 February 2025.
For
further information please contact:
Genus
plc
Tel: +44 125 634 5970
Jorgen Kokke, Chief Executive
Officer
Alison Henriksen, Chief Financial
Officer
Anand Date, Investor Relations &
Sustainability Director
Burson
Buchanan
Tel: +44 207 466 5000
Charles Ryland; Toto Berger; Sophie
Wills; Verity Parker
This announcement contains inside
information for the purposes of article 7 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under
Article 17 of MAR. The person responsible for making this
announcement on behalf of the Group is Vaughn Walton (Company
Secretary).
About
Genus
Genus is a world-leading animal
genetics company. Genus creates advances in animal breeding and
genetic improvement by applying biotechnology and sells added value
products for livestock farming and food producers. Its technology
is applicable across livestock species and is currently
commercialised by Genus in the dairy, beef and pork food production
sectors.
Genus's worldwide sales are made in
over seventy-five countries under the trademarks 'ABS' (dairy and
beef cattle) and 'PIC' (pigs) and comprise semen, embryos and
breeding animals with superior genetics to those animals currently
in farms. Genus's customers' animals produce offspring with greater
production efficiency, and quality, and use these to supply the
global dairy and meat supply chains.
The Group's competitive edge has been
created from the ownership and control of proprietary lines of
breeding animals, the biotechnology used to improve them and its
global supply chain, technical service and sales and distribution
network.
With headquarters in Basingstoke,
United Kingdom, Genus companies operate in over twenty-five
countries on six continents, with research laboratories located in
Madison, Wisconsin, USA.
1 Porcine Reproductive and Respiratory Syndrome
2 The company compiled consensus range for FY25 adjusted profit
before tax in actual currency is £63.0m to £67.4m with an average
of £64.1m. This is based upon 8 analyst estimates
3 The expected currency headwind of £8m to £9m for FY25 assumes
that foreign exchange rates at 9 January 2025 continue for the
remainder of the fiscal year
