Genus (LSE:GNS), the global animal genetics company, said trading in the second half beat expectations, pushing full-year profit ahead of market consensus for the year ended 30 June.
The group now anticipates adjusted profit before tax of approximately £98m in actual currency for the 2026 financial year, including a final £5.6m milestone payment received earlier in the year from Chinese partner Beijing Capital Agribusiness.
PIC, its porcine genetics division, delivered a strong performance as growth in Asia, including China, and Latin America offset weaker North American trading tied to customer disease challenges.
ABS, the bovine genetics arm, posted double-digit profit growth as savings from the Value Acceleration Programme offset softer customer demand and an adverse product mix driven by lower global dairy prices.
Cash conversion was very strong in the second half, driving significant growth in full-year free cash flow.
Genus also received approximately £111m of net cash consideration from Beijing Capital Agribusiness in the fourth quarter following formation of the Chinese porcine joint venture, cutting year-end net leverage to approximately 0.4x.
Genus said it enters the 2027 financial year with a substantially strengthened balance sheet and continued focus on its strategic priorities.
The group will publish its FY26 preliminary results on 10 September.
