{"id":48095,"date":"2022-09-08T08:02:12","date_gmt":"2022-09-08T06:02:12","guid":{"rendered":"https:\/\/pharma-trend.com\/en\/genus-plc-reports-preliminary-results-for-the-year-ended-30-june-2022\/"},"modified":"2022-09-08T08:02:12","modified_gmt":"2022-09-08T06:02:12","slug":"genus-plc-reports-preliminary-results-for-the-year-ended-30-june-2022","status":"publish","type":"post","link":"https:\/\/pharma-trend.com\/en\/genus-plc-reports-preliminary-results-for-the-year-ended-30-june-2022\/","title":{"rendered":"Genus plc Reports Preliminary Results for the Year Ended 30 June 2022"},"content":{"rendered":"
\n

\nContinued Strategic Progress in Challenging Markets<\/b>\n<\/p>\n

\nWebcast Available at 7:01AM BST, 2.01 EDT<\/i>\n<\/p>\n

LONDON–(BUSINESS WIRE)–Genus (LSE:GNS), a leading global animal genetics company, today announces its preliminary results for the year ended 30 June 2022. The full report has been made available on the investors<\/a> section of the Genus plc website. The Company will discuss its corporate, operational and financial highlights in a pre-recorded webcast<\/a> at 7:01 AM BST, 2.01 EDT.\n<\/p>\n

\nCommenting on the performance and outlook, Stephen Wilson (Chief Executive) said:<\/b>\n<\/p>\n

\n\u201cThe Group performed robustly, although challenging market conditions in China porcine impacted the performance of PIC. We also made good strategic progress and completed significant capital investments including Atlas, PIC\u2019s new elite genetics farm in Canada to support growth. Our strategic collaboration with Olymel, which we announced during the year, is progressing well, further strengthening PIC\u2019s North America business.\n<\/p>\n

\n\u201cBovine producers faced more challenging conditions in the second half of the year, as a result of significantly increased input costs and the Ukraine war. However, ABS continued to grow volumes and expand margins, driven by the success of Sexcel (including expansion of sales through our third party IntelliGen business), as well as strong growth in sales of our proprietary NuEra beef genetics across all regions.\n<\/p>\n

\n\u201cPIC delivered strong growth in operating profits excluding PIC China, underpinned by market share gains with key customers in North America, Latin America, and Europe, despite challenging political and macro-economic events. However, as expected, the porcine market and COVID-19 lockdowns in China adversely affected PIC China\u2019s trading during the second half of the year. The live pig price in China remained below the cost of production and has only showed signs of recovery since June.\n<\/p>\n

\n\u201cOver the summer, China\u2019s live pig prices have risen above 21 RMB\/kg, improving confidence that the country\u2019s porcine industry is on the path to recovery and profitability. Industry expectations are that prices will continue to exceed 20 RMB\/kg for the remainder of 2022, although there could still be some further volatility. Investments we have made to increase elite porcine supply chain capacity position Genus well to support Chinese producers’ needs and benefit from the market recovery over time.\n<\/p>\n

\n\u201cThe Board remains confident in the Group’s strategy and the many opportunities for Genus. Medium-term growth expectations remain unchanged.\u201d\n<\/p>\n

\nOutlook<\/b>\n<\/p>\n

\nAs noted above, macro-economic conditions remain particularly challenging for our customers in many parts of the world, however, since the start of the 2023 fiscal year, China\u2019s live pig prices have risen above 21 RMB\/kg, improving confidence that the country\u2019s porcine industry is on the path to recovery. There is still uncertainty as to how sustained this will be and the implications for demand for porcine genetics. Our investments in China position us well to benefit from an upturn. More broadly our clear strategy, strong product portfolio and depth of skill in our sales, services and R&D teams give us confidence that we will continue to make strategic and financial progress in fiscal year 2023 and beyond. The Group remains well positioned to benefit from improving market conditions when these occur and therefore our medium-term growth expectations remain unchanged.\n<\/p>\n

\nResults presentation today<\/b>\n<\/p>\n

\nA pre-recorded analysts and bankers briefing to discuss the preliminary results for the year ended 30 June 2022 will be held via a video webcast facility and will be accessible via the following link from 7:01am today:\n<\/p>\n

\nhttps:\/\/webcasting.buchanan.uk.com\/broadcast\/62c6c042d161177b45786de1<\/a>\n<\/p>\n

\nThis will be followed by a live Q&A session to be held by invitation via Zoom at 10:30am. Please contact Verity Parker at Buchanan for details; verityp@buchanan.uk.com<\/a>\n<\/p>\n

\nResults Highlights<\/b>\n<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nAdjusted results1<\/sup><\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nStatutory results<\/b>\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nActual currency<\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nConstant
\n
currency
\n
change2<\/sup><\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nActual currency<\/b>\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nYear ended 30 June<\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n2022<\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n2021<\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nChange<\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\u00a0<\/td>\n\n

\n2022<\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n2021<\/b>\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\nChange<\/b>\n<\/p>\n<\/td>\n<\/tr>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a3m<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a3m<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n%<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n%<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a3m<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a3m<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n%<\/b>\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nRevenue\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n593.4<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n574.3\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n2\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n593.4<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n574.3\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n3\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating profit\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n68.8<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n76.9\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(11)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(13)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n49.4<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n47.7\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n4\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nOperating profit inc JVs exc gene editing\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n85.6<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n97.4\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(12)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(14)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nn\/a<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nn\/a\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nn\/a\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nProfit before tax\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n71.5<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n84.8\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(16)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(18)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n48.4<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n55.8\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(13)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nFree cash flow\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n(13.5)<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n37.5\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(136)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\nn\/m3<\/sup>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nBasic earnings per share (pence)\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n82.7<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n100.9\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(18)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(20)\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n62.5<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n72.6\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(14)\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nDividend per share (pence)\n<\/p>\n<\/td>\n

\u00a0<\/td>\n\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n32.0<\/b>\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n32.0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n–\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nRobust performance across the business, despite challenging macro-economic events; Group results adversely impacted by PIC China<\/b>\n<\/p>\n