REG - Genus - Half Year Trading Update – Ahead of expectations

GenusAnnouncement

15/01/2025 07:00

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RNS Number : 3327T  Genus PLC  15 January 2025

15 January 2025

Genus plc ("Genus" or the "Group")

Half Year Trading Update - Ahead of expectations

Genus (LSE: GNS), a leading global animal genetics company, publishes the
following unaudited trading update for the six months ended 31 December 2024.
 

Genus performed strongly in the first half of FY25 and the Board expects to
report Group adjusted profit before tax of at least £35m in actual currency,
which is ahead of expectations. Since the Group's AGM trading update in
November, ABS has continued to deliver in line with expectations, with
adjusted operating profit growth driven primarily by Value Acceleration
Programme initiatives. PIC has traded ahead of expectations as a result of
greater volume and adjusted operating profit growth in both the Americas and
Asia.

The regulatory process in relation to the Group's innovative PRRS(1) Resistant
Pig programme continues to progress with both the U.S. Food and Drug
Administration and other international regulators.

The Board now expects Group FY25 adjusted profit before tax to be at the
top-end of the range of market expectations(2) in actual currency. This
includes an expected currency headwind of £8m to £9m in the 2025 financial
year(3), as previously indicated.

Genus will announce its interim results for the six month period from 1 July
2024 to 31 December 2024 on 27 February 2025.

For further information please contact:

Genus plc                            Tel: +44 125
634 5970

Jorgen Kokke, Chief Executive Officer

Alison Henriksen, Chief Financial Officer

Anand Date, Investor Relations & Sustainability Director

Burson Buchanan             Tel: +44 207 466 5000

Charles Ryland; Toto Berger; Sophie Wills; Verity Parker

This announcement contains inside information for the purposes of article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.  The person responsible for making this announcement on behalf of the
Group is Vaughn Walton (Company Secretary).

About Genus

Genus is a world-leading animal genetics company. Genus creates advances in
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 seventy-five 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 use these to supply the global dairy and meat
supply chains.

The Group's competitive edge has been created 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.

With headquarters in Basingstoke, United Kingdom, Genus companies operate in
over twenty-five countries on six continents, with research laboratories
located in Madison, Wisconsin, USA.

(1) Porcine Reproductive and Respiratory Syndrome

(2) The company compiled consensus range for FY25 adjusted profit before tax
in actual currency is £63.0m to £67.4m with an average of £64.1m. This is
based upon 8 analyst estimates

(3) The expected currency headwind of £8m to £9m for FY25 assumes that
foreign exchange rates at 9 January 2025 continue for the remainder of the
fiscal year

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