Genus PLC
05 April 2006
For Immediate Release 5 April 2006
GENUS plc
('Genus' or 'the Company')
Pre-Close Trading Update
Genus plc ('Genus'), the world's leading animal genetics company, issues the
following pre-close trading update for the twelve month period ended 31 March
2006.
The Company reported Interim results for the period ended 30 September 2005 on
29 November 2005 but will make a second interim results statement on 7 June
2006, in respect of the twelve month period ended 31 March 2006, due to the
previously announced change in year end date. Preliminary results for the 15
months to 30 June 2006 are expected to be announced in September 2006.
As anticipated in the first half year statement, trading in Bovine Genetics,
Animal Health & Development Consulting, continued to be strong during the second
half year, in generally stable market conditions.
In line with our declared strategy for disposing of non-core businesses, Genus
divested the veterinary wholesaling business of the Animal Health Division for
£7.2m on 28 October 2005, and the Dental Wholesaling business was sold for £1m
on 24 February 2006.
Sygen International plc ('Sygen') was acquired for £187m on 2 December 2005.
Integration of the Sygen businesses is proceeding well, with synergy savings
expected to exceed the Board's initial expectations.
Trading within the acquired PIC business, for the four months following the
acquisition, has been ahead of plan. This has offset shortfalls caused by a
late selling season within Sy Aqua, the acquired shrimp business.
Overall, the enlarged group expects to be in line with market expectations for
the twelve month period to 31 March 2006.
Genus is continuing to make good progress in sound market conditions for its
extended range of businesses.
Richard Wood, Genus Chief Executive, commented:
'We are pleased by the positive response we have received from Sygen's high
calibre employees. There has been strong support for the increased emphasis we
have placed on commercial achievement, so implicit in Genus' management style.
This has assisted the Group in achieving higher than expected levels of cost
synergies to date. As planned, we are now working hard to overlay a commercial
strategy to refocus the acquired R&D operations and to take advantage, in
bovines, of Sygen's previous success in selling pig genetics to the integrated
food chain.'
For further information please contact:
Richard Wood, Chief Executive, Genus plc 01256 345971
David Timmins, Group Finance Director, Genus plc 01256 345977
Suzanne Brocks, Buchanan Communications 020 7466 5000
About Genus:
Genus is the world's leading animal genetics company. It applies a unique
combination of quantitative genetics and biotechnology in a £15m per year
research and development programme to animal breeding, which is applicable
across all livestock species.
These processes are applied to traditional mating and selection programmes which
allow farmers and producers to create, more efficiently, higher quality and
healthier, non genetically modified food products. This adds value for farmers
and producers, processors, distributors, retailers and consumers.
Genus' product range is centred on pigs, cattle and shrimp and covers both
tropical and temperate agricultures. The company operates from facilities
located in thirty countries on five continents. Its principal laboratories are
located in the USA.
In the UK, Genus Animalcare develops and markets licensed veterinary
pharmaceuticals. Genus also operates an overseas consultancy practice which
manages projects funded by aid agencies for less developed countries.
Genus offers world class expertise in its sector of modern agricultural
technology.
This information is provided by RNS
The company news service from the London Stock Exchange
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