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Genus delivers 'strong' underlying group trading performance in FY25
(Sharecast News) - Animal genetics firm Genus said on Tuesday that it had delivered a "strong" underlying group trading performance in the year ended 30 June, in line with expectations. Genus said it had delivered "double-digit underlying growth" adjusted operating profits in its PIC unit, with an additional net £3.7m milestone receipt following US Food and Drug Administration approval of its PRP gene edit.
The FTSE 250-listed firm also said its ABS wing had performed ahead of expectations in H2, with value acceleration programme initiatives continuing to be "the primary driver" of adjusted operating profit growth.
"As a result of good trading and the PRP milestone receipt, the board now expects group FY25 adjusted profit before tax to be at least £72.0m in actual currency. Excluding the net £3.7m PRP milestone receipt, FY25 adjusted PBT is expected to be at least £68.0m in actual currency, in line with expectations," said Genus.
Genus added that H2 group cash conversion continued to be "very strong", resulting in strong growth in free cash flow and a reduction in leverage to less than 1.6x at year-end.
As of 0820 BST, Genus shares were up 1.79% at 2,275.0p.
Reporting by Iain Gilbert at Sharecast.com
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