Genus revenues and profits in line with full-year expectations
Animal genetics company Genus said in a brief trading update on Tuesday that is has been performing well during the first months of the year.
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The group said its volumes, revenues and adjusted profit before tax have increased compared with last year. It added it is trading in line with expectations for the full-year.
Numis analysts said: "We continue to believe that Genus is building on its market leading position in porcine genetics through expansion in Europe and China, as well as improving its technical offering in bovine through its recent acquisition of IVF technology whilst developing its own in-house proprietary sexing technology platform."
The broker maintained its hold recommendation, however, due to legal risks in the sexed semen technology in the bovine business.
Genus is holding a Capital Markets Event on Tuesday, but said it willl not add any further information regarding its current trading.
Shares fell 1.63% to 1387p at 09:17.