- 26 Feb 2007 13:01
Just wondered if anyone else out there is holding this company. I bought in a while ago just on the principle it would rise on the take-up by tracker fund managers due to its admission into the main market, and it has.
- 12 May 2015 09:56
- 13 of 27
Genus, a leading global animal genetics company, says it hasperformed in line with forecasts since the start of the year.
Genus's volumes, revenues and adjusted profit before tax all increased compared with last year's performance.
Genus says it continued to make good progress during the period under review towards our strategic objectives, and is trading in line with expectations for the financial year 2015.
Genus is holding a capital markets event today at 2 p.m. at which no material new information will be disclosed and Genus will not be commenting on current trading beyond what is announced in this statement.
The capital markets event will cover Genus's business model and the initiatives being implemented to further strengthen its position as a leader in the animal genetics market. The presentations given by Genus management will be made available on the company website tomorrow.
- 15 Sep 2015 11:18
- 14 of 27
Global animal genetics company Genus posts adjusted pre-tax profits of £46.6m for the year to the end of June - up from £39.3m last time and 23% higher at constant currencies.
The increase was driven mainly by a strong performance from the porcine division.
Revenues rose to £398.5m - up 7% and 8% higher at constant currencies. Adjusted operating profits increased to £47.2m - up from £42.9m. Adjusted operating profit including JVs rose to £51.2m from £44.8m.
Chief executive Karim Bitar said: "Genus performed well in 2015 achieving operational results that reflect the strategic progress and improvement we have been making. The opportunity in the animal genetics market remains large. We are convinced that as we vigorously execute our strategy of innovation and market focus, we will capture more of the market opportunity.
"While market conditions across our industries and geographies look likely to be mixed in 2016, we expect underlying performance to be in line with expectations. However, currencies remain a significant headwind."
- 08 Dec 2015 08:43
- 15 of 27
Genus tackles major pig disease with breakthrough technology
Genus (LSE: GNS), a global pioneer in animal genetics, announces the development of the first pigs resistant to Porcine Reproductive and Respiratory Syndrome Virus ("PRRSv"), through a long-standing collaboration with the University of Missouri.
The production of PRRSv resistant pigs is a significant breakthrough in combating this devastating porcine disease, and Genus is excited to be progressing the development of this technology under an exclusive global license from the University of Missouri.
PRRSv is the most significant and harmful pig disease faced by many farmers, causing animal reproductive failure, reduced growth and premature death. Even though it has challenged the pork industry for more than 25 years, there is currently no cure for PRRSv. The technology has the potential to eliminate the disease impact on the animals, improve the well-being of pigs, and enhance pig farm productivity, which ultimately will help meet the global demand for pork products.
Using precise gene editing, the University of Missouri was able to breed pigs that do not produce a specific protein necessary for the virus to spread in the animals. The early stage studies conducted by the University demonstrate these PRRSv resistant pigs, when exposed to the virus, do not get sick and continue to gain weight normally. Genus will continue to develop this technology, and we expect it will be at least five years until PRRS resistant animals are available to farmers. Genus intends to commercialize the technology through PIC, its porcine division.
- 23 Feb 2016 07:48
- 16 of 27
Genus, a leading animal genetics company, reports solid first half results and says its full year is on track.
Adjusted operating profits of GBP23.9m were 3% up at constant currencies but 2% at actual exchange rates. Adjusted operating profit, including joint ventures, totalled GBP26.3m - up 4% in constant currency but 3% lower in actual currency.
Revenues totalled GBP188.3m compared with GBP198.5m last time.
Chief executive Karim Bitar said: "Genus achieved a great deal during the first half of the year. Our performance was in line with our expectations and demonstrated the success of our strategy and strength of our diverse species and geographic presence. Performance was particularly strong in Asia, led by China, whilst ABS was impacted by challenging trading conditions, particularly in Europe. "The announcement of the first pigs resistant to the devastating PRRS virus, developed through gene editing with the University of Missouri, was a very significant milestone in the history of our industry. We are seeing the early fruits of our strong commitment to lead in innovation through R&D. We are excited by the prospects this has for animals, our customers and our business and will continue to commit increasing resources to our R&D programmes. "Our confidence in the strategy for the business and in the future prospects for the Company is reflected in the 10% increase in our interim dividend. We expect to make further good progress during the second half of the year and we anticipate that our full year performance will be in line with our objectives."
- 11 Aug 2016 08:29
- 17 of 27
Genus, a global pioneer in animal genetics, has announced the first jury verdicts in its anti-trust litigation against Inguran LLC, operating as Sexing Technologies ('ST'), relating to ABS's Genus Sexed Semen processing technology.
At the trial, in the US District Court for the Western District of Wisconsin where the verdicts were announced yesterday, the jury found that ABS and Genus had proved that ST had wilfully maintained monopoly power in the market for sexed bovine semen processing in the US since July 2012.
The jury also found that Genus had not proved that it had suffered injury as a result of ST's wilful maintenance of monopoly power.
The jury has still to consider ST's counter claims related to two of its US patents (numbers 8,206,987 and 8,198,092) and ST's counter claims that Genus breached confidentiality obligations under the 2012 semen sorting agreement between the parties.
The jury is expected to deliver verdicts on these matters shortly. In addition the jury will also consider, if applicable, a verdict on damages in relation to these matters later this week.
GSS is a novel technology for sexing bovine semen that does not subject the sperm cells to high pressures and forces. Dairy farmers have a preference for female calves, and the use of gender skewed sexed semen in artificial insemination provides customers with female calves from ABS's elite genetic lines.
The commercial launch of GSS product would provide ABS customers and third party bull studs with an alternative service provider and increased competition in the market for the processing of sexed bovine semen.
Genus will update the market as further verdicts are announced and as post verdict motions are considered.
- 08 Sep 2016 08:03
- 18 of 27
Genus, a leading global animal genetics company, reports significant strategic progress and continued profit growth in the year to the end of June.
Adjusted profit before tax rose 7% to £49.7m (up 10% in constant currency), driven by strong performances in Genus PIC and Genus Asia, particularly China.
Statutory profit before tax rose 5% to £60.9m including a pension related exceptional credit of £44.2m (2015: £0.4m) and a reduction in the value of biological assets £17.1m (2015: £24.9m increase).
Adjusted basic earnings per share rose 7% to 60.7p (up 10% in constant currency) and statutory basic earnings per share increased 23% to 81.1p reflecting a lower statutory tax rate on adjusting items.
Revenue of £388.3m, reduced 3% due to lower bovine volumes in tough dairy markets and lower porcine by-product and up-front sales. Growth of 17% (14% in constant currency) in strategically important royalty revenues.
Chief executive Karim Bitar said: "Genus performed well overall in 2016 with another year of double digit constant currency profit growth and substantial strategic progress in our R&D endeavours in addition to growth in key markets such as China.
"We established gene editing as a core strategic longer term growth platform in Genus that offers considerable opportunity in disease resistance which will benefit animals, customers and consumers. Our GSS technology is ready for commercial launch and we expect to have legal clarity in the coming months on when we will be able to bring it to market.
"To pursue our long-term growth objectives, we plan to increase R&D investment in FY17 and therefore expect broadly stable constant currency results, however exchange rates should provide a benefit to the reported numbers.
"Overall we expect to perform in line with market expectations. We are confident in the future of the business and are proposing a 10% increase in the dividend."
- 23 Feb 2017 09:46
- 19 of 27
Genus, a leading animal genetics company, reports adjusted pre-tax profits of £25.1m for the six months to the end of December - 5% up at actual currency but 10% down on a constant currency basis.
Revenues of £222.1m were up 18% on an actual basis and 3% higher at constant currencies.
On a statutory basis, operating profits were flat at £10.0m and pre-tax profits were 12% lower at £11.4m.
The interim dividend of 7.4p per share, which is payable on 31 March, is 10% up on last time.
Genus also announced that it has signed an agreement to enter into a strategic partnership covering the supply of porcine genetics in several markets.
PIC, Genus's porcine division, will acquire the genetic rights and intellectual property of Hermitage.
Hermitage will also become a strategic supply chain and distribution partner for PIC.
In addition, PIC will acquire certain Hermitage customer relationships in various geographies including Russia, the US and several European countries.
The transaction is subject to a number of closing conditions which are expected to be fulfilled by the end of March
- 23 Mar 2017 11:03
- 20 of 27
Berenberg today initiates coverage of Genus PLC (LON:GNS) with a hold investment rating and price target of 1800p.
- 09 Jun 2017 10:12
- 21 of 27
Genus is facing new patent infringement litigation in the US.
The company - a global pioneer in animal genetics - said Inguran, XY and Cytonome/ST, (collectively ST) had filed patent infringement proceedings against ABS Global, Genus and Premium Genetics (UK) (collectively ABS) in the US District Court for the Western District of Wisconsin.
Genus said: "The new litigation alleges that ABS infringes seven ST patents and asserts trade secret and breach of contract claims."
It said that ABS intended to vigorously defend ST's latest legal action.
An update said: "The litigation is part of the long running dispute between ST and ABS in connection with the development and launch of Genus Sexed Semen technology (GSS), a proprietary product designed to compete with ST's monopoly in the processing of sexed bovine semen.
"In previous litigation initiated by ABS, the court for the Western District of Wisconsin awarded ABS a permanent injunction against ST based on the finding that ST had wilfully maintained an illegal monopoly in the market for sexed bovine semen processing in the US since July 2012.
"The court also found ABS had infringed two ST patents and awarded damages and post judgment royalties.
"ABS has filed a notice of appeal on one of these patents and an inter-partes review oral hearing at the US Patent Office is scheduled shortly on the other.
"The US Patent Office had earlier found two other ST patents challenged by ABS to be unpatentable."
- 13 Sep 2017 11:39
- 22 of 27
Liberum Capital today downgrades its investment rating on Genus PLC (LON:GNS) to hold (from buy) and raised its price target to 2100p (from 1950p).
- 07 Nov 2017 13:47
- 23 of 27
Kepler Cheuvreux today initiates coverage of Genus PLC (LON:GNS) with a hold investment rating and price target of 2353p
- 16 Nov 2017 09:42
- 24 of 27
Genus has traded in line with forecasts since the beginning of July and continued to make good progress towards its strategic objectives for the year, according to an update issued ahead of today's annual general meeting.
The update said that market conditions for the group's customers were generally favourable.
It said: 'Pig producers were profitable across most major markets, although pig prices in China reduced.
'Dairy prices globally were higher than the same period in the prior year which enabled more farmers to be profitable. Beef prices stabilised in the US following their fall in the earlier part of the year, but conditions for Brazilian producers remained challenging.
'Volumes, revenues and adjusted operating profits for the four months to 31 Oct 2017 all increased compared with the prior year in both Genus PIC and Genus ABS.
'Adjusted profit before tax for the Group was also higher, despite planned strategic investments in research and development. Exchange rates were largely neutral during the period.'
- 14 Feb 2018 08:03
- 25 of 27
Liberum Capital today reaffirms its hold investment rating on Genus PLC (LON:GNS) and raised its price target to 2400p (from 2100p).
- 06 Sep 2018 09:48
- 26 of 27
Animal genetics company Genus saw its share price nosedive Thursday after statutory profit slumped sharply as it wrote down its biological assets.
For the year ended 30 June 2018, statutory profit before tax fell 81% to £7.8m, revenue rose 2% to £470.3m.
The value of the company's biological assets slumped to -£28.7m, from a £1.1m valuation in the previous year. Excluding the adjusted for the write down, profit before tax rose 4% to £58.5m.
The company declared a final dividend of 17.9p a share, taking the total dividend to 26.0p a share, up 10% on last year.
The company said it anticipated further growth in 2019, but warned of short term pain amid a more challenging external environment, owing to growing barriers to international trade and the recent spread of African Swine Fever to China. 'Genus performed strongly in 2018, achieving our financial objectives and making good strategic progress. ABS growth was particularly strong, alongside another good year for PIC,' said Karim Bitar, Chief Executive. 'The successful launch of Sexcel, our innovative proprietary 21st century sexed semen product in September 2017, was a real highlight after many years of pioneering development. It was very pleasing to hear from dairy farmers how the product performance is exceeding their expectations.'
- 06 Sep 2018 09:49
- 27 of 27
Liberum Capital today reaffirms its hold investment rating on Genus PLC (LON:GNS) and set its price target at 2400p.
Peel Hunt today downgrades its investment rating on Genus PLC (LON:GNS) to hold (from buy) and set its price target at 2600p.