Genus PLC (LON:GNS) said it expects to report strong half-year growth in profits thanks to strong business for its porcine genetics business in China and its bovine arm in Brazil, Russia, India and China.
Adjusted profit before tax is expected to come in at £47-49mln for the six months to end-December, compared to £36.6mln the year before, the FTSE 250 group said, on revenue of £285-287mln, up from £270.7mln a year earlier.
However, the animal genetics specialist said the worsening of the coronavirus pandemic in recent weeks in many countries means growth in the second half of the year is likely to be lower than the first.
Even so, profits for the full-year to June 30, 2021 are still expected to be better than its previous profit growth guidance, the company added, based on the strong recent trading and the current momentum of its PIC porcine arm and ABS bovine business.