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Anybody holding Genus? (GNS)     

chad - 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.

HARRYCAT - 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."

HARRYCAT - 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

HARRYCAT - 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.

HARRYCAT - 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."

HARRYCAT - 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).

HARRYCAT - 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

HARRYCAT - 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.'

HARRYCAT - 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).

HARRYCAT - 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.'

HARRYCAT - 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.
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