Blencowe Resources: Aspiring to become one of the largest graphite producers in the world. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGenus Share News (GNS)

Share Price Information for Genus (GNS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,898.00
Bid: 1,898.00
Ask: 1,902.00
Change: 6.00 (0.32%)
Spread: 4.00 (0.211%)
Open: 1,852.00
High: 1,908.00
Low: 1,852.00
Prev. Close: 1,892.00
GNS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Genus holds gloomy guidance as tough conditions persist

Thu, 22nd Feb 2024 08:42

(Sharecast News) - There were few surprises in Genus's interim results on Thursday after a detailed trading update from the animal genetics company just last week, as it reported a 31% drop in adjusted profits as expected.

Shares in Genus tanked 16% on 15 February after the company guided to full-year adjusted pre-tax profit of £58m, owing to challenging markets, well below the consensus forecast for a similar outcome from last year's £71.5m.

However, an absence of bad news its interim results has provided some reassurance, with shares rising 2.5% at 1,960p following the figures on Thursday morning.

In line with recent guidance, Genus said revenues were £334m in the six months to 31 December, down 5% on the previous year, which it described as "resilient" in a tough environment. At constant currency, revenues would have risen 1%.

Adjusted pre-tax profit was down 26% year-on-year on a reported basis at £29m due to weakness in China, particularly in its porcine business PIC and dairy/cattle unit ABS. In the latter specifically, demand for dairy genetics in China was hit by a double-digit decline in the dairy herd.

As mentioned last week, Genus is now undergoing a so-called "Value Acceleration Programme" in ABS to improve profitability and returns from investments.

"We have taken rapid action including initiating a comprehensive programme to accelerate the value delivery from our bovine operations," said chief executive Jorgen Kokke.

"We have also completed a strategic review of R&D activities. The company is benefitting from savings achieved in the first half and will benefit further in the second half of the year and into FY25, as we optimise resource allocation to best deliver our growth objectives."

The company said there was no change to the full-year guidance given last week, assuming that current market conditions persist for the rest of the year.

"We are seeing the positive impact of our actions to accelerate value delivery which will deliver further benefit in the second half and in subsequent years," Kokke said.

More News
14 Nov 2019 09:26

Genus Seeing Increased Demand As African Swine Fever Ravages China

Genus Seeing Increased Demand As African Swine Fever Ravages China

Read more
14 Nov 2019 08:04

Genus' porcine unit boosted by outbreak of African swine fever

(Sharecast News) - Animal genetics firm Genus said its porcine and dairy and beef businesses grew during the four months ended 31 October on Thursday, with revenues and adjusted operating profits coming in higher year-on-year.

Read more
7 Nov 2019 16:11

UK Shareholder Meetings Calendar - Next 7 Days

UK Shareholder Meetings Calendar - Next 7 Days

Read more
31 Oct 2019 15:41

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

Read more
11 Sep 2019 07:41

US court rules on damages for Genus technology infringements

(Sharecast News) - Genus on Wednesday said a US court had ruled on damages over infringement of two bull semen sexing patents sold by ABS Global under the Intelligen brand.

Read more
10 Sep 2019 10:17

Genus technology ruled to be in breach of three US patents

(Sharecast News) - Genus confirmed on Tuesday that a US court had ruled that its sexing semen technology infringed three patents asserted by Inguran, LLC and Cytonome/ST.

Read more
5 Sep 2019 09:24

Genus Annual Profit Lifts On Strong Revenue Performance From Bovine

(Alliance News) - Genus PLC on Thursday reported a rise in profit for its recent financial year, with a robust increase in bovine revenue while porcine revenue held steady.The FTSE 250 a up

Read more
5 Sep 2019 09:18

Genus profits rise as bovine revenue grows

(Sharecast News) - Animal genetics company Genus posted an increase in full-year profit and revenue on Thursday despite the challenges caused by the spread of African Swine Fever (ASF).

Read more
29 Aug 2019 15:59

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 30 August Cathay International HoldingsHalf Year ResultsEMIS GroupHalf Year Year 2

Read more
22 Aug 2019 08:37

Genus Promotes Finance Head Wilson As New Boss After Bitar Departure

(Alliance News) - Genus PLC said Thursday it has promoted Finance Director Stephen Wilson to become the new chief of the FTSE 250-listed animal genetics firm from mid-September.Wilson, at a

Read more
22 Aug 2019 08:10

Genus promotes FD Stephen Wilson to role of CEO

(Sharecast News) - Animal genetics company Genus has promoted group finance director Stephen Wilson to the role of chief executive.

Read more
22 Aug 2019 07:50

LONDON BRIEFING: Johnson Set For Brexit Talks With French President

(Alliance News) - UK Prime Minister Boris Johnson on Thursday is set for showdown Brexit talks in Paris, hours after French President Emmanuel Macron ruled out making concessions.The UK was

Read more
22 Aug 2019 07:33

LONDON MARKET PRE-OPEN: Buybacks From CRH, Playtech And NMC Health

(Alliance News) - Stocks in London are set to open lower on Thursday after minutes from the US Federal Reserve were less dovish than markets had been anticipating.In early UK company news,

Read more
24 May 2019 18:13

DIRECTOR DEALINGS: Genus ABS Dairy Division COO Sells Shares

LONDON (Alliance News) - Genus PLC said Friday that the Chief Operating Officer of its Genus ABS Dairy division Nate Zwald sold around GBP60,755 in stock in a deal on Thursday.Zwald sold at

Read more
16 May 2019 17:03

LONDON MARKET CLOSE: Investors Turn Blind Eye To Huawei Blacklisting

LONDON (Alliance News) - Stocks in London ended higher on Thursday with risk appetite returning to equity markets as investors shrugged off Huawei's blacklisting in the US. In the latest US an

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.