Half Year Trading Update – Ahead of expectations

Genus (LSE: GNS), a leading global animal genetics company, publishes the following unaudited trading update for the six months ended 31 December 2024.

Genus performed strongly in the first half of FY25 and the Board expects to report Group adjusted profit before tax of at least £35m in actual currency, which is ahead of expectations. Since the Group's AGM trading update in November, ABS has continued to deliver in line with expectations, with adjusted operating profit growth driven primarily by Value Acceleration Programme initiatives. PIC has traded ahead of expectations as a result of greater volume and adjusted operating profit growth in both the Americas and Asia.

The regulatory process in relation to the Group's innovative PRRS1 Resistant Pig programme continues to progress with both the U.S. Food and Drug Administration and other international regulators.

The Board now expects Group FY25 adjusted profit before tax to be at the top-end of the range of market expectations2 in actual currency. This includes an expected currency headwind of £8m to £9m in the 2025 financial year3, as previously indicated.

1 Porcine Reproductive and Respiratory Syndrome

2 The company compiled consensus range for FY25 adjusted profit before tax in actual currency is £63.0m to £67.4m with an average of £64.1m. This is based upon 8 analyst estimates

3 The expected currency headwind of £8m to £9m for FY25 assumes that foreign exchange rates at 9 January 2025 continue for the remainder of the fiscal year