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Genus, a global leader in animal genetics, announced its interim results for the six months ending December 31, 2022. Revenue grew by 25% to £350.2m, with operating profit up by 18% at £41.2m. Despite challenges in China and Latin America, PIC achieved record performance, boosted by a 23% volume increase in China. The company's focus on R&D saw an 86% increase in gene editing investment. CEO Stephen Wilson announced intentions to retire on September 30, 2023, after a decade with Genus. While uncertainties remain, especially in Chinese and Latin American markets, the board maintains its expectations for the fiscal year.
Genus (LSE:GNS) reported preliminary results for the year ending June 30, 2022, revealing a 3% revenue increase to £593.4 million. Adjusted profit before tax decreased by 16%, impacted by challenges in PIC China and rising input costs due to inflation and the Ukraine war. Excluding PIC China, adjusted profit rose by 28%. Key highlights include strong growth in ABS with a 9% increase in adjusted operating profit and significant capital investments like the new genetics farm in Canada. Despite macroeconomic headwinds, the group remains confident in its medium-term growth outlook.
Genus plc (LSE:GNS) reports interim results for the six months ended December 31, 2021. Total Group revenue decreased by 2%, while adjusted profit before tax fell 21%. Excluding the poor performance in the Chinese porcine market, revenue increased by 4% and adjusted PBT rose by 25%. Significant challenges remain in China's market due to low pig prices affecting profitability. However, strong growth was noted in North America and Latin America. The company continues to invest in R&D and strategic partnerships, maintaining a stable interim dividend of 10.3p.
Genus (LSE:GNS) reports strong preliminary results for the fiscal year ending June 30, 2021, achieving a 4% revenue growth, boosted by double-digit growth in adjusted operating profits for both PIC and ABS. Key markets include China, Brazil, and India. The company noted a 28% increase in adjusted operating profit, reflecting significant strategic progress and strong cash flow, with a recommended 10% increase in dividends. However, short-term challenges are anticipated in the Chinese porcine market, potentially lowering growth in FY22 before recovery in FY23.
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