Genus publishes year-end figures

Genus has announced its preliminary results for the year ended June 30th 2008.

The animal genetics firm and veterinary supplier recorded revenues of 247.1 million pounds for the period, a year-on-year rise of six per cent.

Operating profit for the year rose 13 per cent on the figure from 2007 to 32.4 million pounds, while earnings per share increased 30 per cent to 32 pence.

The company reported the new financial year has begun in line with expectations, with farmer sentiment improving with rising demand and the board remaining confident for its prospects during 2009.

Richard Wood, chief executive of Genus, said: “We have again delivered strong profit growth and have exceeded market expectations despite harsh market conditions in the livestock farming sector.”

He added the results underline the strength of the firm’s business model and management team.

Last week, Genus announced an agreement to add more nucleus herd capacity to its network of breeding stock in China.