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 touts programme to boost investment returns as profit declines

Thu, 22nd Feb 2024 11:08

(Alliance News) - Genus PLC on Thursday reported a profit fall as its dairy business in China was "particularly" challenged, but said it took decisive action to optimise resource allocation to meet its growth objectives.

Basingstoke, England based animal genetics biotechnology company said pretax profit fell 4.7% to GBP14.3 million in the six months to December 31 from GBP15.0 million a year ago.

Revenue contracted 4.7% to GBP333.6 million from GBP350.2 million.

Chief Executive Officer Jorgen Kokke said: "Genus faced challenging markets which impacted performance in the first half of the year. We have taken rapid action including initiating a comprehensive programme to accelerate the value delivery from our bovine operations. We have also completed a strategic review of research & development 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."

He added: "ABS saw weakness across most markets. China dairy was particularly challenging; not only did conventional volumes suffer from a double-digit decline in the dairy herd, but mix was also impacted as demand for sexed genetics reduced."

Despite the profit and revenue fall, Genus maintained its total dividend at 10.3 pence per share.

The company highlighted that a value acceleration programme was underway for ABS to improve profitability and returns from investments. A part of Genus sales are made under the trademarks ABS, for dairy & beef cattle.

Genus shares rose 4.7% to 2,002.00 pence each on Thursday morning in London.

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2024 Alliance News Ltd. All Rights Reserved.

More News
25 Feb 2021 09:05

Genus reports strong interim results

(Sharecast News) - Animal genetics company Genus reported a record adjusted profit before tax in its interim results on Thursday, as revenue in its porcine genetics business 'PIC' rose 8%.

Read more
18 Feb 2021 15:58

UK Earnings, Trading Statements Calendar - Next 7 Days

UK Earnings, Trading Statements Calendar - Next 7 Days

Read more
18 Jan 2021 11:59

LONDON MARKET MIDDAY: US Holiday Leads To Quiet Session; Airlines Slip

LONDON MARKET MIDDAY: US Holiday Leads To Quiet Session; Airlines Slip

Read more
18 Jan 2021 09:34

UK BROKER RATINGS SUMMARY: Land Securities And Dixons Get Upgrades

UK BROKER RATINGS SUMMARY: Land Securities And Dixons Get Upgrades

Read more
18 Jan 2021 08:40

LONDON MARKET OPEN: Soft Start As China Retail Sales Signal Weakness

LONDON MARKET OPEN: Soft Start As China Retail Sales Signal Weakness

Read more
18 Jan 2021 08:35

Genus Set To Post Strong Interim Growth, Beat Prior Annual Guidance

Genus Set To Post Strong Interim Growth, Beat Prior Annual Guidance

Read more
18 Jan 2021 07:43

LONDON MARKET PRE-OPEN: Spirent Expects Earnings Growth For 2020

LONDON MARKET PRE-OPEN: Spirent Expects Earnings Growth For 2020

Read more
4 Dec 2020 16:06

UK Dividends Calendar - Next 7 Days

UK Dividends Calendar - Next 7 Days

Read more
2 Dec 2020 08:40

Covid-19 vaccines trigger new bullmarket, Liberum says

(Sharecast News) - The development of successful Covid-19 vaccines has set off a fresh bull market for UK shares that will last several years, Liberum analysts said.

Read more
25 Nov 2020 13:38

Wednesday broker round-up

(Sharecast News) - Codemasters Group: Berenberg downgrades to hold with a target price of 485p.

Read more
25 Nov 2020 11:56

LONDON MARKET MIDDAY: Pre-Thanksgiving Markets Lull; Sunak Review Due

LONDON MARKET MIDDAY: Pre-Thanksgiving Markets Lull; Sunak Review Due

Read more
25 Nov 2020 10:44

UK WINNERS & LOSERS SUMMARY: GoCo Up, Future Down After Takeover Offer

UK WINNERS & LOSERS SUMMARY: GoCo Up, Future Down After Takeover Offer

Read more
25 Nov 2020 10:10

Genus Reports Strong Trading Growth Depsite Covid-19 Pandemic Impact

Genus Reports Strong Trading Growth Depsite Covid-19 Pandemic Impact

Read more
25 Nov 2020 09:28

UK BROKER RATINGS SUMMARY: Jefferies Upgrades Antofagasta And Glencore

UK BROKER RATINGS SUMMARY: Jefferies Upgrades Antofagasta And Glencore

Read more
25 Nov 2020 08:31

Genus sees 'good momentum' carry over into new trading year

(Sharecast News) - Animal genetics company Genus said on Wednesday that "good momentum" seen at the end of the previous trading year had carried over into the current one.

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.