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Genus Plc Now Sees 2023 Pre-tax Profit In Line With Board's View

Genus Plc (GNS.L), on Wednesday, issued trading update for the period from 1 July 2022 to 22 November 2022, and said it now expects FY23 profit before tax to be in line with the Board's expectations, albeit with performance weighted to the second half.

In the period under review Genus stated that it saw good trading in the porcine business, with strength and market share gains in North America and improved trading in China, whilst the bovine business faced more challenging market conditions particularly in LATAM and EMEA.

In the four months to 31 October 2022, PIC's volumes and revenue were higher than the prior year. Royalty revenue achieved strong growth, including in China.

Although COVID restrictions in China continue to be a headwind to a recovery in demand, PIC China remains well positioned to capture the growth opportunity as it develops, the company added.

Further, the Board remains confident in the Group's strategy and the many opportunities ahead for Genus.

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