Genus PLC
16 November 2006
For Immediate Release 16 November 2006
Genus plc
Annual General Meeting
Trading Update
At the Annual General Meeting of Genus plc ('Genus') to be held today at 2.30pm,
the Chairman, John Hawkins, will make the following statement:
'Genus is now a world leading animal genetics company. The Group has the benefits
of greater critical mass, economies of scale, reduced dependency on only one animal
species, and an enlarged research and development programme of greater diversity.
Genus continues to benefit from the increased opportunities arising from the Sygen
acquisition. The integration has progressed well and I am pleased to confirm that first
quarter trading has been in line with the Board's expectations and the prognosis for
the remainder of our financial year remains good.
In addition, Genus has progressed its strategy to divest the loss making SyAqua
shrimp business and non-core businesses by the disposal in October of SyAqua
Thailand, the second SyAqya shrimp business to be sold, to an MBO-led team. Offers
are currently being considered for the Mexican shrimp business and other non-core
businesses. This strategy will hasten the reduction in net debt and will drive the
opportunity to introduce further species in due course.'
For further information please contact:
Genus plc Tel: 01256 347 100
Richard Wood, Chief Executive
David Timmins, Finance Director
Buchanan Communications Tel: 020 7466 5000
Charles Ryland
Suzanne Brocks
Simon Potter
This information is provided by RNS
The company news service from the London Stock Exchange
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