Genus plc reports strong first half performance

Continued growth in porcine, greater value from bovine and the successful commercialization of the PRRS resistant pig gene edit has delivered attractive returns for Genus plc for the first half of fiscal year 2025. The global animal genetics company reported a slight increase in revenue, up 1% at £336.4m, a 19% rise in adjusted operating profit including joint ventures with £45.2m in actual currency, and a 21% jump in adjusted profit before tax to £35.4m in actual currency. Adjusted earnings per share increased 20% and interim dividend was maintained at 10.3p per share.

Genus notes substantial strategic progress was achieved across they key areas:

• Porcine: Continued momentum in China with seven new royalty customer wins (now 20 new royalty customers signed over the last 18 months).
• PRRS Resistant Pig: The U.S. Food and Drug Administration's approval of the porcine reproductive and respiratory syndrome resistant pig is expected in calendar year 2025 with significant milestones achieved to date. The FDA conducted planned site inspections and Genus has responded to the FDA’s feedback. The FDA has also accepted Genus’s Environmental Assessment submission.
• Bovine: VAP Phase 2 initiatives actioned and on track for £10m annualized adjusted operating profit benefit and VAP Phase 3 planning is underway. Genetic supply chain has been strengthened through Genus taking 100% control of its De Novo joint venture via the acquisition of minority interests.