For Immediate Release 19 November 2015
Genus plc
('Genus' or the 'Company')
AGM - TRADING UPDATE
Genus, a leading global animal genetics company, today publishes a trading update for the period from 1 July 2015 to 18 November 2015.
Genus performed in line with expectations during the period under review. Adjusted profit before tax for the four months to 31 October 2015 increased in constant currency compared with last year's performance. Volumes grew in porcine but were lower in bovine. Revenues reduced in constant currency primarily as a result of anticipated lower porcine genetic nucleus revenues following the exit of the Génétiporc nucleus in the prior period. As expected, actual currencies were a material headwind in the period.
Market conditions for Genus's customers were mixed. As previously reported, dairy prices globally have been under significant pressure, which affected demand in Genus ABS. Increased pig production in markets such as the US has been favourable for Genus's royalty volumes but resulted in lower pig prices for producers. In China, the pig price rebounded strongly following the sustained industry capacity reductions over the last two years, leading to an improved trading environment for Genus Asia.
Outlook
Genus continued to make progress towards its strategic objectives during the period under review, and is trading in line with expectations for the financial year 2016.
For further information please contact:
Genus plc |
Tel: +44(0)1256 345970 |
Karim Bitar, Chief Executive |
|
Stephen Wilson, Group Finance Director |
|
Buchanan |
Tel: +44(0)207 466 5000 |
Charles Ryland /Vicky Watkins |
|
This announcement is available on the Genus website www.genusplc.com
About Genus
Genus creates advances to animal breeding and genetic improvement by applying biotechnology and sells added value products for livestock farming and food producers. Its technology is applicable across all livestock species and is currently commercialised by Genus in the dairy, beef and pork food production sectors.
Genus's worldwide sales are made in seventy countries under the trademarks "ABS" (dairy and beef cattle) and "PIC" (pigs) and comprise semen and breeding animals with superior genetics to those animals currently in production. Genus's customers' animals produce offspring with greater production efficiency, and quality, and use these to supply the global dairy and meat supply chain.
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 thirty countries on six continents, with research laboratories located in Madison, Wisconsin, USA.
