LONDON (ShareCast) - (Sharecast News) - Animal genetics firm Genus said on Wednesday that it expects full-year adjusted pre-tax profit to be at the top end of the range of market forecasts after a strong first half.
Consensus expectations are for a range of between £63m and £67.4m.

In an update for the six months to the end of December, Genus said it expects first-half adjusted pre-tax profit of £35m, which is ahead of expectations.

The group said that since its AGM trading update in November, the ABS division has continued to deliver in line with expectations, with adjusted operating profit growth driven mainly by Value Acceleration Programme initiatives.

In addition, PIC - its global porcine genetics business - has traded ahead of expectations thanks to greater volume and adjusted operating profit growth in both the Americas and Asia.

Genus said the regulatory process in relation to its innovative Porcine Reproductive and Respiratory Syndrome Resistant Pig programme continues to progress with both the US Food and Drug Administration and other international regulators.

Genus is due to report its interim results on 27 February.

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