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Genus plc Provides Update on Financial Performance for First Half of Fiscal 2021

Genus plc (LSE: GNS), a global biotechnology leader in animal genetics, today reported continued strong performance across its operations for the six-months period ending December 31, 2020.

The strong trading performance reported by the Company at its recent Annual General Meeting (AGM) on November 25, 2020 has continued through the first half of Genusa??s financial year, and the adjusted profit before tax of the Group in actual currency is now expected to be within a range of A?47.0m and A?49.0m for the first half (six months to December 31, 2019: A?36.6m). Revenue for the period is now expected to be within a range of A?285.0m to A?287.0m (six months to December 31, 2019: A?270.7m). High growth in volumes, revenue and adjusted operating profit were achieved across the Groupsa?? operations by both PIC and ABS, our porcine and bovine genetics businesses respectively. Business trends are consistent with those previously announced at the time of the AGM, including further strong growth achieved, in particular, by PIC in China and by ABS in Brazil, Russia, India and China.

Outlook

The prevalence of COVID-19 across the globe has increased substantially since the trading update provided in November and Genus expects there will continue to be some challenges for our customers and employees for the remainder of our financial year, despite the prospect of better conditions as vaccines are being made available. However, 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 30 June 2021.

The Interim results are due to be announced 25 February 2021.

About Genus

Genus advances animal breeding and genetic improvement by applying biotechnology and sells added value products for livestock farming and food producers. Its technology is applicable across livestock species and is currently commercialised by Genus in the dairy, beef and pork food production sectors.
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