Proactiveinvestors United Kingdom Genus https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Genus RSS feed en Thu, 20 Jun 2019 00:03:18 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Notification of Major Holdings ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190618152933_14115525/ Tue, 18 Jun 2019 15:29:33 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190618152933_14115525/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190603174300_14096879/ Mon, 03 Jun 2019 17:43:00 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190603174300_14096879/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190524180327_14087601/ Fri, 24 May 2019 18:03:27 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190524180327_14087601/ <![CDATA[RNS press release - Strategic porcine collaboration in China ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190516095819_14076559/ Thu, 16 May 2019 09:58:19 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190516095819_14076559/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190401135418_14023863/ Mon, 01 Apr 2019 13:54:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190401135418_14023863/ <![CDATA[RNS press release - Genus Chief Executive Transition ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190325070013_14013438/ Mon, 25 Mar 2019 07:00:13 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190325070013_14013438/ <![CDATA[News - City broker expects Genus to benefit from African swine fever ravaging southeast Asia ]]> https://www.proactiveinvestors.co.uk/companies/news/215817/city-broker-expects-genus-to-benefit-from-african-swine-fever-ravaging-southeast-asia-215817.html Cattle and pig breeder Genus PLC (LON:GNS) spurted higher on Tuesday after analysts at Liberum published a gushing ‘buy’ note.

The City broker, which moved its recommendation up to ‘buy’ from ‘hold’, thinks the African swine fever (ASF) epidemic, which is currently ravaging southeast Asia will prove to be a blessing in disguise over the long term.

READ: Genus upgraded to 'buy' by Peel Hunt

The highly contagious and incurable disease has swept through China – the world’s largest producer and consumer of pork – and surrounding countries over the past six months or so.

“While this is causing a short-term hit to PIC profits in China (£3mln in 1H19), it will cause Chinese and global pig prices to soar (the Chinese piglet price has jumped in the last few weeks).

“The vast scale of Chinese import demand will trigger substantial global hog production expansion for which Genus is in prime position to benefit.”

The analysts add that ASF will force Chinese authorities to clamp down on ‘back-yard farming’. When something similar happened in Russia, Genus’ market share rocketed from 8% to 38%.

“We nudge our 2021 EPS estimates up by 4%, noting that uncertainty over the ASF situation in China is keeping a lid on nearer term estimates.

“We believe the risk to these estimates lies on the upside. The estimate upgrades nudge our target price up 4% to 2,500p (from 2,400p), and we raise our recommendation to ‘buy’.”

Genus shares rose 3.3% to 2,259p in early afternoon trading in London.

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Tue, 05 Mar 2019 12:36:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/215817/city-broker-expects-genus-to-benefit-from-african-swine-fever-ravaging-southeast-asia-215817.html
<![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190304151128_13989467/ Mon, 04 Mar 2019 15:11:28 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190304151128_13989467/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190301140001_13987642/ Fri, 01 Mar 2019 14:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190301140001_13987642/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190228070009_13984431/ Thu, 28 Feb 2019 07:00:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190228070009_13984431/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190201140001_13955797/ Fri, 01 Feb 2019 14:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190201140001_13955797/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190102144920_13921359/ Wed, 02 Jan 2019 14:49:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20190102144920_13921359/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181211133732_13899597/ Tue, 11 Dec 2018 13:37:32 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181211133732_13899597/ <![CDATA[News - Genus upgraded to ‘buy’ by Peel Hunt after share placing ]]> https://www.proactiveinvestors.co.uk/companies/news/210773/genus-upgraded-to-buy-by-peel-hunt-after-share-placing-210773.html Genus PLC (LON:GNS) was upgraded to a ‘buy’ from a ‘hold’ rating by broker Peel Hunt after the animal genetics company said on Friday it had raised of £68mln through a share placing.

Genus said 3.1mln new shares were issued to new and existing investors at a price of 2,200p per placing share.

READ: Genus raises of £68mln through share placing

“The proceeds will ensure balance sheet flexibility to continue to invest in the business and to take advantage of infill acquisition opportunities,” Peel Hunt analysts wrote in a note to clients.

“The raise is slightly dilutive (c3% in the short term) but should be materially accretive as the company strengthens its strategic position and breeding capacity.”

Genus’s share price is 25% off the peak it reached last July, triggered by the outbreak of African swine fever (ASF) in China.

Peel Hunt said the current share price was an attractive entry point into a high-quality business with attractive long-term growth potential combined with the transformative opportunity in gene editing. Peel Hunt maintained its 2,600p target price.

Genus was earlier this week upgraded to a ‘buy’ from a ‘hold’ rating by broker Kepler Chevreux who believes the fall in the animal genetics company’s share price on the back of fears over the outbreak of African swine fever has been overdone.

Genus shares were 5.6% down at 2,258.0p in mid-morning trade.

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Fri, 07 Dec 2018 11:02:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210773/genus-upgraded-to-buy-by-peel-hunt-after-share-placing-210773.html
<![CDATA[News - Genus raises £68mln through share placing ]]> https://www.proactiveinvestors.co.uk/companies/news/210742/genus-raises-68mln-through-share-placing-210742.html Genus PLC (LON:GNS) said on Friday it had raised £68mln through a share placing.

The animal genetics company said 3.1mln new shares were issued to new and existing investors at a price of 2,200p per placing share.

READ: Genus upgraded by Kepler as African swine fever concerns abate

The placing price represents a 7.8% discount to the closing price of 2,386p on 6 December 2018.

Genus was earlier this week upgraded to a ‘buy’ from a ‘hold’ rating by broker Kepler Chevreux who believes the fall in the animal genetics company’s share price on the back of fears over the outbreak of African swine fever has been overdone.

Genus’s share price is 25% off the peak it reached last July, triggered by the outbreak of African swine fever (ASF) in China.

Peel Hunt and Liberum acted as joint book runners on the placing.

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Fri, 07 Dec 2018 07:10:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210742/genus-raises-68mln-through-share-placing-210742.html
<![CDATA[RNS press release - Result of placing to raise approximately £68m ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181207070004_13895037/ Fri, 07 Dec 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181207070004_13895037/ <![CDATA[RNS press release - Proposed placing to raise approximately £68m ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181206164105_13894767/ Thu, 06 Dec 2018 16:41:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181206164105_13894767/ <![CDATA[News - Genus upgraded by Kepler as African swine fever concerns abate ]]> https://www.proactiveinvestors.co.uk/companies/news/210666/genus-upgraded-by-kepler-as-african-swine-fever-concerns-abate-210666.html Genus PLC (LON:GNS) has been upgraded to a ‘buy’ from a ‘hold’ rating by broker Kepler Chevreux who believes the fall in the animal genetics company’s share price on the back of fears over the outbreak of African swine fever has been overdone.

Genus’s share price is 25% off the peak it reached last July, triggered by the outbreak of African swine fever (ASF) in China.

READ: Genus sounds note of caution over African swine fever and trade disputes

China accounts for 10% of earnings of Genus’ porcine division and for 15% of group earnings.

“In the short term, we regard African swine fever as a manageable one-off. Our base case assumes a 25% cut in PIC’s volume and EBIT in China in 2019E,” Kepler analysts said in a note to clients.

“We see the 25% decline in the share price as overdone and upgrade our rating from ‘hold’ to ‘buy’,” they added.

Kepler believes the fever will likely cause a modest slowdown in volume growth and a 1% cut in 2019 forecast earnings per share (EPS). In a worst-case scenario, another 5% cut in 2019E EPS might be needed, they add.

Shares in Genus were 8.2% up at 2,504.0p in late morning trade.

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Thu, 06 Dec 2018 11:09:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210666/genus-upgraded-by-kepler-as-african-swine-fever-concerns-abate-210666.html
<![CDATA[RNS press release - Director Declaration ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181121120003_13875680/ Wed, 21 Nov 2018 12:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181121120003_13875680/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181115160004_13869004/ Thu, 15 Nov 2018 16:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181115160004_13869004/ <![CDATA[RNS press release - AGM Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181115070004_13867548/ Thu, 15 Nov 2018 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181115070004_13867548/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181101140001_13851834/ Thu, 01 Nov 2018 14:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181101140001_13851834/ <![CDATA[RNS press release - Annual Report and Annual General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181012165329_13827665/ Fri, 12 Oct 2018 16:53:29 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181012165329_13827665/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181012163750_13827629/ Fri, 12 Oct 2018 16:37:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181012163750_13827629/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181012163729_13827628/ Fri, 12 Oct 2018 16:37:29 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181012163729_13827628/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181001140001_13811534/ Mon, 01 Oct 2018 14:00:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20181001140001_13811534/ <![CDATA[RNS press release - Additional Listing ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180924180124_13802675/ Mon, 24 Sep 2018 18:01:24 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180924180124_13802675/ <![CDATA[RNS press release - Non-Executive Director Retirement ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180924135204_13802189/ Mon, 24 Sep 2018 13:52:04 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180924135204_13802189/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180919153609_13797188/ Wed, 19 Sep 2018 15:36:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180919153609_13797188/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180918172152_13795585/ Tue, 18 Sep 2018 17:21:52 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180918172152_13795585/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180917172713_13793791/ Mon, 17 Sep 2018 17:27:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180917172713_13793791/ <![CDATA[News - Genus sounds note of caution over African swine fever and trade disputes ]]> https://www.proactiveinvestors.co.uk/companies/news/204334/genus-sounds-note-of-caution-over-african-swine-fever-and-trade-disputes-204334.html Investors turned bearish on animal genetics company Genus PLC (LON:GNS) after some cautious comments in its full-year results statement.

The company warned that the external environment for many of its customers is challenging because of trade disputes and the recent spread of African swine fever to China.

READ: Genus ordered to pay US$2mln after cow semen court case

Peel Hunt responded to the cautious outlook by adjusting its estimates for the current fiscal year by around 4% but left its fiscal 2020 estimates unchanged as it does not see the tricky conditions lasting for too long.

The broker left its 2,600p price target unchanged but downgraded the stock to ‘hold’ from ‘buy’; the shares currently trade at 2,598p, down 4.6% on the day.

Aside from the cautious outlook, this morning’s statement was generally a story of growth with revenue in the year to the end of June rising 2% (+6% in constant currency terms) to £470.3mln from £459.1mln the year before and adjusted profit before tax climbing 4% (+6%) to £58.5mln from £56.4mln the previous year.

The results were in line with management’s expectations.

Reflecting confidence in the future, the dividend was increased by 10% to 26p from 23.6p the previous year.

"Genus performed strongly in 2018, achieving our financial objectives and making good strategic progress,” said Karim Bitar, the chief executive officer of Genus.

Bitar said growth in the dairy and beef cattle business, ABS, was particularly strong, while it was another good year for PIC, the pigs business.

"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. The commencement of the strategic partnership with Møllevang in July 2018 will further strengthen and bring new opportunities to our PIC business,” Kitar said.

Short-term uncertainty​

Stockbroker Liberum left its rating at ‘hold’ and its target price at 2,400p, saying market swings have brought short-term caution but long-term opportunities.

Like Peel Hunt, it has revised the current year estimate for profit before tax down by 4% but unlike Peel Hunt, it has also trimmed 2% off next year’s forecast.

“Genus is confident in the future growth prospects for the business yet trade disputes, FX volatility and the recent outbreak of African Swine Fever in China bring short-term uncertainty. While the short-term market-led outlook is cautious, in the mid-term, this may bode well for Genus given it may increase the need for breeding stock,” the broker said.

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Thu, 06 Sep 2018 10:41:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204334/genus-sounds-note-of-caution-over-african-swine-fever-and-trade-disputes-204334.html
<![CDATA[RNS press release - Preliminary Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180906070003_13780533/ Thu, 06 Sep 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180906070003_13780533/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180801140005_13740079/ Wed, 01 Aug 2018 14:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180801140005_13740079/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180720115621_13725988/ Fri, 20 Jul 2018 11:56:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180720115621_13725988/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180711134425_13714224/ Wed, 11 Jul 2018 13:44:25 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180711134425_13714224/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180709070005_13709613/ Mon, 09 Jul 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180709070005_13709613/ <![CDATA[RNS press release - Capital Markets Event ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180620070003_13686116/ Wed, 20 Jun 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180620070003_13686116/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180612144238_13676677/ Tue, 12 Jun 2018 14:42:38 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180612144238_13676677/ <![CDATA[RNS press release - Board Appointment ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180524070014_13653185/ Thu, 24 May 2018 07:00:14 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180524070014_13653185/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180518172232_13647697/ Fri, 18 May 2018 17:22:32 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180518172232_13647697/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180501163906_13626352/ Tue, 01 May 2018 16:39:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180501163906_13626352/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180412181855_13602937/ Thu, 12 Apr 2018 18:18:55 +0100 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180412181855_13602937/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180316143421_13570571/ Fri, 16 Mar 2018 14:34:21 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180316143421_13570571/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180305183838_13555466/ Mon, 05 Mar 2018 18:38:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180305183838_13555466/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180301104820_13551063/ Thu, 01 Mar 2018 10:48:20 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180301104820_13551063/ <![CDATA[RNS press release - Interim Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180228070005_13548286/ Wed, 28 Feb 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180228070005_13548286/ <![CDATA[RNS press release - Block listing Interim Review ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180201140001_13518507/ Thu, 01 Feb 2018 14:00:01 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20180201140001_13518507/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20171229115142_13480774/ Fri, 29 Dec 2017 11:51:42 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20171229115142_13480774/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20171222112706_13476171/ Fri, 22 Dec 2017 11:27:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/3590/LSE20171222112706_13476171/