Genus (GNS): ABS second-half recovery
This situation live
GNS Genus
19 Nov 2025 · ABS slightly behind plan on phasing · +10% until the next step
ABS adjusted operating profit2 has been slightly lower than expected due to phasing. Management expects a step up in performance in the second half.
16 Jan 2026 · ABS trading as expected; phasing concern eased · +0% until the next step
PIC trading continued to be strong and ABS traded as expected.
26 Feb 2026 · VAP ahead of plan; H1 ABS profit up · −26% until the next step
VAP Phase 3 is ahead of our previous expectations and is on track to deliver approximately £7m of in-year benefit and £9m of annualised benefit to adjusted operating profit.
14 Jul 2026 · Double-digit H2 profit growth; demand softer · +2% until the next step
ABS also achieved double-digit profit growth with continued benefits from the Value Acceleration Programme offsetting softer customer demand and adverse product mix driven by lower global dairy prices
10 Sep 2026 · FY26 delivered; FY27 moderate growth guided · +6% since
Genus ABS: expecting moderate adjusted operating profit growth in FY27
ABS second-half recovery
FY26 delivered; FY27 moderate growth guided
Next: Moderate ABS profit growth in FY27; VAP workstreams complete in H1
Every step · 5
- 19 Nov 2025 ABS slightly behind plan on phasing – ABS adjusted operating profit2 has been slightly lower than expected due to phasing. Management expects a step up in performance in the second half. ↗
- 16 Jan 2026 ABS trading as expected; phasing concern eased – PIC trading continued to be strong and ABS traded as expected. ↗
- 26 Feb 2026 VAP ahead of plan; H1 ABS profit up – VAP Phase 3 is ahead of our previous expectations and is on track to deliver approximately £7m of in-year benefit and £9m of annualised benefit to adjusted... ↗
- 14 Jul 2026 Double-digit H2 profit growth; demand softer – ABS also achieved double-digit profit growth with continued benefits from the Value Acceleration Programme offsetting softer customer demand and adverse... ↗
- 10 Sep 2026 FY26 delivered; FY27 moderate growth guided – Genus ABS: expecting moderate adjusted operating profit growth in FY27 ↗
What is happening
Genus: ABS second-half recovery – FY26 delivered; FY27 moderate growth guided. ['FY26 delivered; FY27 moderate growth guided']
- In short
- ABS recovery was tied to VAP savings against softer dairy demand. FY26 adjusted operating profit including JVs reached £22.9m (7.6% margin) with £9.0m of VAP benefit, offset by lower global dairy prices. FY27 guided to moderate profit growth; the medium-term target is a double-digit margin.
- Announced
- 19 Nov 2025 · ABS slightly behind plan on phasing
- Latest
- 10 Sep 2026 · FY26 delivered; FY27 moderate growth guided
- FY26 profit
- £22.9m adjusted operating profit incl. JVs, 7.6% margin
- VAP benefit
- £9.0m in FY26; Phase 3 £9m annualised
- FY27 guide
- Moderate adjusted operating profit growth
- Target
- Double-digit operating margin in the medium term
What comes next
Moderate ABS profit growth in FY27; VAP workstreams complete in H1.
Briefing Pro
New to Genus? Get up to speed in 2 minutes.
What it does, how it got here, what management promised and delivered – written from its own announcements.
Get the GNS briefing →From the company's own announcements. Not investment advice.
Also at Genus 2 open
Project milestonesPRP gene edit commercialisation – Four approvals; Latin America launch beginning
Upgrade / downgrade cyclePIC North America disease – Hitting volumes; FY27 H1 headwind
Disposal of a part (break-up)China porcine joint venture – Completed; c.£111m net cash received in Q4 · closed
Insider conviction1 director buying – £50k in 1 buy · closed
Insider conviction1 director buying – £50k in 1 buy · closed
Genus – company page →