15th Jan 2025 10:21
(Alliance News) - Genus PLC on Wednesday reported a strong start to financial 2025, with half-year profit predicted ahead of expectations.
The London market rallied behind the Basingstoke, England-based biotechnology and genetics company, as Genus shares rose 21% to 1,718.00 pence each on Wednesday morning.
Genus anticipates adjusted pretax profit for the six months to December 31 will be at least GBP35 million, up from GBP29.2 million the year prior.
This estimate is at the high-end of market expectations. It is given in actual currency and assumes a constant currency headwind of GBP8 million to GBP9 million in the 2025 financial year.
Genus said its bovine genetics branch ABS had delivered in line with expectations since the firm's last update in November. PIC, the porcine genetics arm, had traded at higher volumes than expected, and saw adjusted operating profit rise in the North American and Asian markets.
Progress continues on Genus's Resistant Pig programme, which is undergoing review by the US Food & Drug Administration and other international regulators.
Publication of the half-year results is scheduled for February 27.
By Holly Munks, Alliance News reporter
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