Genus PLC Trading Update (9370L)
January 18 2021 - 2:00AM
UK Regulatory
TIDMGNS
RNS Number : 9370L
Genus PLC
18 January 2021
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 GBP47.0m
and GBP49.0m for the first half (six months to 31 December 2019:
GBP36.6m). Revenue for the period is now expected to be within a
range of GBP285.0m to GBP287.0m (six months to 31 December 2019:
GBP270.7m). 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTBRMLTMTBBBAB
(END) Dow Jones Newswires
January 18, 2021 02:00 ET (07:00 GMT)
Genus (LSE:GNS)
Historical Stock Chart
From Aug 2024 to Sep 2024
Genus (LSE:GNS)
Historical Stock Chart
From Sep 2023 to Sep 2024