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Genus profit rises 27% in H1 as China expansion boosts growth
StockMarketWire.com
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Genus reported rise in first-half profit as revenue was boosted by the expansion of its porcine genetics business in China.
For the half year ended 31 December 2020, pre-tax profit increased 27% to £38.7 million and revenue was up 8% to £285.7 million year-on-year.
Porcine genetics business, or PIC, saw revenue up 8%.
'PIC's expansion in China was significant, gaining share with large producers that have been re-stocking following the spread of African Swine Fever in 2019, the company said.
Looking ahead, the company forecast growth to slow in the second half of the year, but expects the company to perform in line with its expectations for the financial year 2021.
At 9:08am: (LON:GNS) Genus PLC share price was 0p at 4350p
Story provided by StockMarketWire.com
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