|
Genus PLC on Tuesday reported good trading as it expects annual adjusted pretax profit to come in higher than the upper end of analyst estimates. The Basingstoke, England-based animal biotechnology and genetics company anticipates adjusted pretax profit of at least £72 million, compared to the analyst consensus of between £66.8 million and £70.2 million, with an average of £67.9 million. The result would be 20% higher than £59.8 million in financial 2024, and up 0.7% from £71.5 million in financial 2023. Genus cited ‘strong’ underlying trading in line with expectations, and double-digit underlying growth in adjusted operating profit for PIC, which sells breeding pigs and semen to farmers so they can breed commercial pigs for pork production. Further, ABS performed ahead of expectations in the second half. ABS is Genus’s bovine genetics business that sells dairy and beef bull semen and embryos from cattle, so farmers can breed cows via artificial insemination. The company added that for ABS, its value acceleration programme initiatives continued to be the main driver of adjusted operating profit growth. Genus will publish its annual results on September 4. Genus shares rose 5.6% to 2,360.00 pence each on Tuesday morning in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
