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Genus sees further growth after full year profits jump 19pct

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Genus (LON:GNS) said its revenues and profits increased in the financial year to end June thanks to strong performances in Asia, North America and Latin America.

Revenues rose 10 percent from the previous year to £341.8 million, resulting in a 19 percent jump in pre-tax profits and earnings per share to £46.5 million and 53.5 pence per share respectively.

The strong financial results prompted the animal genetics group to hike its dividend by 10 percent to 14.6 pence per share.

During the year, bovine volumes rose eight percent and porcine volumes climbed seven percent, while the group also reported that its spending on research and development has increased 13 percent to £28.7 million.

Genus said it has made significant progress under its new chief executive Karim Bitar, who has developed a “new vision and strategy”, while also highlighting the establishment of its first porcine joint venture in China in July.

“With the investments we are making in R & D, the BRIC countries and core competencies, we believe this strategy will enable Genus to continue to make progress in the year ahead and will see an improving rate of growth from 2014 onwards,” said Bitar.

Quick facts: Genus plc

Price: 3076 GBX

LSE:GNS
Market: LSE
Market Cap: £2 billion
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