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Genus Sees Higher H1 Adj. Pre-tax Profit, Revenue; To Perform Ahead Of Profit Growth View In FY21

Genus plc (GNS.L), an animal genetics company, Monday said it now expects first-half adjusted profit before tax to be within a range of 47 million pounds and 49 million pounds, higher than last year's 36.6 million pounds.

In its trading update for the six months ended December 31, the company said revenue for the period is now expected to be within a range of 285.0 million pounds to 287.0 million pounds, up from 270.7 million pounds a year ago.

The company noted that the strong trading performance it reported recently has continued through the first half. High growth in volumes, revenue and adjusted operating profit were achieved across its operations by both PIC and ABS.

Looking ahead, Genus expects there will continue to be some challenges for the remainder of our financial year, noting that COVID-19 across the globe has increased substantially since the trading update provided in November. This is despite the prospect of better conditions as vaccines are being made available.

Based on the strong first half trading performance and the current momentum of PIC and ABS, the Board currently anticipates that although growth in the second half is likely to be lower than experienced in the first half, Genus will perform ahead of its previous profit growth expectations for the financial year ending June 30, 2021.

The Interim results are due to be announced on February 25.

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