Genus Plc (GNS.L), an animal genetics company, on Wednesday said it has continued to perform well in the final two months of the financial year 2012 and that it expects to report a good performance with adjusted profit before tax in line with market expectations.
The company expects to record pre-tax exceptional credit of up to 5 million pounds in the year.
In its pre-close trading statement for its financial year ended June 30, Genus said its revenue has continued to grow both in porcine and bovine with particularly strong growth in Latin America and Asia.
Market conditions and customer demand have remained good in most markets although some softness has been experienced in bovine in North America, it said.
Adjusted operating profit has improved in line with expectations with generally firm pricing, despite increasing investment in research and development.
Genus said its profits have improved strongly in Asia, particularly in Russia and China, and in Latin America.
In North America, improved royalty income and good pricing discipline and cost control more than offset the softness in that market. Europe has performed broadly in line with the prior year.
Genus will announce its preliminary results for the year on September 4.
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by RTT Staff Writer
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