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 2025 ("H1 FY26").

Genus performed strongly in H1 FY26 and the Board expects to report first half Group adjusted profit before tax (excluding the BCA milestone payment1 referenced below) of approximately £50m in actual currency, which is ahead of our expectations. Including the BCA milestone payment, first half Group adjusted profit before tax is expected to be approximately £55.6m in actual currency.

Following the Group's AGM trading update in November 2025, PIC trading continued to be strong and ABS traded as expected. The Board now expects Group FY26 adjusted profit before tax (excluding the BCA milestone payment1) to be moderately above the top-end of current market expectations2.

On 4 September 2025, Genus announced the accelerated formation of its porcine joint venture in China3. The Group is pleased to confirm that formation of the joint venture received regulatory approval from SASAC4 in December 2025, which has also triggered the final $7.5m (c. £5.6m) milestone payment from BCA to Genus. Genus now expects formation of the Chinese porcine joint venture and receipt of the milestone cash payment in its fiscal third quarter.

Genus will announce its interim results for the six month period from 1 July 2025 to 31 December 2025 on 26 February 2026.

Footnotes

1 Group adjusted profit before tax excludes the PRP-related milestone payment from BCA triggered by receipt of regulatory approval from SASAC4 and the financial impact from the planned formation of the Group's porcine joint venture in China

2 The company compiled consensus estimate range for Group FY26 actual currency adjusted profit before tax is £82.7m to £85.0m with an average midpoint of £83.6m, and is based upon 9 analyst estimates

3 Accelerated Chinese porcine joint venture formation

4 China's State-owned Assets Supervision and Administration Commission of the State Council ("SASAC")

5 PRRS (Porcine Reproductive and Respiratory Syndrome) Resistant Pig ("PRP")