-

Genus shares plunge 16% as China woes continue

Shares in Genus (LSE: GNS), the animal genetics firm, plunged 16% after the company warned that Chinese porcine markets remained “challenging”. It said it now expected to report lower revenue and adjusted pretax profit for …

Shares in Genus (LSE: GNS), the animal genetics firm, plunged 16% after the company warned that Chinese porcine markets remained “challenging”. It said it now expected to report lower revenue and adjusted pretax profit for the six months to 31 December.

Genus said it anticipated adjusted pretax profit of £29m, down 31% year-on-year, on revenue of £334m, a 4.6% decline. Performance outside China was more robust, with regions including North America and Europe delivering profit growth. But Genus said China continued to be a difficult market, although a renewed commercial focus had resulted in new royalty customers that would benefit 2025 and beyond.

Read More News:
Close Brothers shares slump as amid FCA motor finance probe

On the crucial PRP programme, Genus said recent talks with the US Food & Drug Administration had clarified data submissions required post-approval. It now expects approval in 2025, reinforcing its belief it will be forthcoming.

Sign up for Investomania

Subscribe to the Investomania newsletter to have our daily recap delivered directly to your inbox.

No spam. Unsubscribe anytime.