Last checked at 18 Jan 2021 07:00
Immediate release 18 January 2021
Genus plc
('Genus' or the 'Group')
TRADING UPDATE - STRONG PERFORMANCE CONTINUES THROUGH FIRST HALF
Genus (LSE: GNS), a leading global animal genetics company, publishes the following trading update for the six months period ending 31 December 2020.
The strong trading performance reported at the recent AGM on 25 November 2020 has continued through the first half of Genus's financial year, and the adjusted profit before tax of the Group in actual currency is now expected to be within a range of £47.0m and £49.0m for the first half (six months to 31 December 2019: £36.6m). Revenue for the period is now expected to be within a range of £285.0m to £287.0m (six months to 31 December 2019: £270.7m). High growth in volumes, revenue and adjusted operating profit were achieved across the Groups' operations by both PIC and ABS. Business trends are consistent with those previously announced at the time of the AGM, including further strong growth achieved in particular by PIC in China and by ABS in Brazil, Russia, India and China.
Outlook
The prevalence of COVID-19 across the globe has increased substantially since the trading update provided in November and Genus expects there will continue to be some challenges for our customers and employees for the remainder of our financial year, despite the prospect of better conditions as vaccines are being made available. However, based on the strong first half trading performance and the current momentum of PIC and ABS, the Board currently anticipates that although growth in the second half is likely to be lower than experienced in the first half, Genus will perform ahead of its previous profit growth expectations for the financial year ending 30 June 2021.
The Interim results are due to be announced 25 February 2021.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information please contact:
Genus plc | Tel: 01256 345970 |
Stephen Wilson, Chief Executive Officer | |
Alison Henriksen, Chief Financial Officer | |
Buchanan | Tel: 0207 466 5000 |
Charles Ryland /Chris Lane/Charlotte Slater |
This announcement is available on the Genus website www.genusplc.com
About Genus
Genus advances 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 80 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 our customers use them to supply the global dairy and meat supply chains.
Genus's competitive edge comes 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.
Headquartered in Basingstoke, United Kingdom, Genus companies operate in over 25 countries on six continents, with research laboratories located in Madison, Wisconsin, USA.