Shares in Genus PLC (LSE:GNS) rose 20% on Wednesday after the animal genetics company said its half-year adjusted profit before tax would exceed expectations, reaching at least £35m.
The strong performance was driven by growth in its PIC (Pig Improvement Company) division, which outperformed forecasts with increased volumes and profits in the Americas and Asia, alongside gains from its ABS Value Acceleration Programme.
Mid-morning, the stock was up 278p at 1,702p.
While the performance was well received in the City, Genus did flag an £8-£9 million currency headwind.
It also reported progress in regulatory approvals for its PRRS1 Resistant Pig programme.