Last checked at 5 Jul 2010 07:00
For Immediate Release 5 July 2010
Genus plc
('Genus' or the 'Company')
Pre-Close Trading Statement
Genus, a leading global animal genetics company, today provides the following update on trading for the six months to 30 June 2010.
Trading in the final two months of the financial year since the Interim Management Statement issued on 12 May 2010 has been in line with the Board's expectations. As a result, the Group remains on course to deliver an improved underlying performance in the second half of the year. In addition, there has been a benefit from exchange rate movements on the reported results.
The Group also expects to report a small non-cash exceptional gain resulting from the closure to future accrual of defined benefit pensions in the Milk Pension Fund.
For further information please contact:
Genus plc Tel: 01256 345970
Richard Wood, Chief Executive
John Worby, Finance Director
Buchanan Communications Tel: 0207 466 5000
Charles Ryland
Suzanne Brocks
About Genus
Genus creates advances to animal breeding through biotechnology and sells added value products for livestock farming and food producers. Its non-Genetically Modified Organism (GMO) technology is applicable across all livestock species but is only commercialised by Genus in the bovine and porcine farming sectors.
Genus' worldwide sales are made in seventy countries under the trademarks "ABS" (dairy and beef cattle) and "PIC" (pigs) and comprise semen and breeding animals with superior genetics to those animals currently in production. Customers use Genus genetics in their herds to produce offspring with greater production efficiency, milk and meat output and quality. These offspring are used to supply the global dairy and meat supply chain.
Genus' competitive edge has been created from the ownership and control of proprietary lines of breeding animals, the biotechnology used to improve them and the Group's global production and distribution network.
Headquartered in Basingstoke, England, Genus companies operate in 30 countries on six continents, with research laboratories located in Madison, Wisconsin, USA.