Genus Regulatory News (GNS)

5 Apr 2006 07:00

Genus PLC05 April 2006 For Immediate Release 5 April 2006 GENUS plc ("Genus" or "the Company") Pre-Close Trading Update Genus plc ("Genus"), the world's leading animal genetics company, issues thefollowing pre-close trading update for the twelve month period ended 31 March2006. The Company reported Interim results for the period ended 30 September 2005 on29 November 2005 but will make a second interim results statement on 7 June2006, in respect of the twelve month period ended 31 March 2006, due to thepreviously announced change in year end date. Preliminary results for the 15months to 30 June 2006 are expected to be announced in September 2006. As anticipated in the first half year statement, trading in Bovine Genetics,Animal Health & Development Consulting, continued to be strong during the secondhalf year, in generally stable market conditions. In line with our declared strategy for disposing of non-core businesses, Genusdivested the veterinary wholesaling business of the Animal Health Division for£7.2m on 28 October 2005, and the Dental Wholesaling business was sold for £1mon 24 February 2006. Sygen International plc ("Sygen") was acquired for £187m on 2 December 2005.Integration of the Sygen businesses is proceeding well, with synergy savingsexpected to exceed the Board's initial expectations. Trading within the acquired PIC business, for the four months following theacquisition, has been ahead of plan. This has offset shortfalls caused by alate selling season within Sy Aqua, the acquired shrimp business. Overall, the enlarged group expects to be in line with market expectations forthe twelve month period to 31 March 2006. Genus is continuing to make good progress in sound market conditions for itsextended range of businesses. Richard Wood, Genus Chief Executive, commented: "We are pleased by the positive response we have received from Sygen's highcalibre employees. There has been strong support for the increased emphasis wehave placed on commercial achievement, so implicit in Genus' management style.This has assisted the Group in achieving higher than expected levels of costsynergies to date. As planned, we are now working hard to overlay a commercialstrategy to refocus the acquired R&D operations and to take advantage, inbovines, of Sygen's previous success in selling pig genetics to the integratedfood chain." For further information please contact: Richard Wood, Chief Executive, Genus plc 01256 345971David Timmins, Group Finance Director, Genus plc 01256 345977 Suzanne Brocks, Buchanan Communications 020 7466 5000 About Genus: Genus is the world's leading animal genetics company. It applies a uniquecombination of quantitative genetics and biotechnology in a £15m per yearresearch and development programme to animal breeding, which is applicableacross all livestock species. These processes are applied to traditional mating and selection programmes whichallow farmers and producers to create, more efficiently, higher quality andhealthier, non genetically modified food products. This adds value for farmersand producers, processors, distributors, retailers and consumers. Genus' product range is centred on pigs, cattle and shrimp and covers bothtropical and temperate agricultures. The company operates from facilitieslocated in thirty countries on five continents. Its principal laboratories arelocated in the USA. In the UK, Genus Animalcare develops and markets licensed veterinarypharmaceuticals. Genus also operates an overseas consultancy practice whichmanages projects funded by aid agencies for less developed countries. Genus offers world class expertise in its sector of modern agriculturaltechnology. This information is provided by RNS The company news service from the London Stock Exchange