19th Nov 2015 08:02
LONDON (Alliance News) - Genus PLC said it continued to make progress towards its strategic objectives in the first four months of its current financial year, and is trading in line with expectations for the full year.
In a statement ahead of its annual general meeting the animal genetics company said its adjusted pretax profit in the four months to end-October increased in constant currency compared to the previous year. It did not disclose how its pretax profit is adjusted.
Genus said that revenue fell at constant currency as a result of lower porcine genetic nucleus revenue following its exit from Génétiporc nucleus in the previous year.
Market conditions for its customers were mixed, Genus said, with increased pig production in markets like the US boosting its royalty volumes, and the pig price rebounding strongly in China, however, dairy prices globally have been "under significant pressure."
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Genus