Animal genetics group Genus has continued to trade in line with expectations during the four months to 31 October.
The firm believes world agricultural markets have generally remained favourable for its customers and remains confident that its expectations for the full year will be met.
Adjusted operating profit continued to grow as expected, although this was partly offset by higher research and development (R&D) costs. The R&D costs were higher in part due to increased investment and slightly higher feed costs, while finance costs were lower.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm was keen to emphasise the overall adjusted profit before tax for the period was well ahead of last year.
Net debt at the end of October 2011 was £69.3m, slightly higher than at 30 June and significantly lower than at the same time last year (£79.7m).
The share price was down 0.89% to 1,000p at 14:12.
NR
-
8 of the best properties for sale near ski slopesThe best properties for sale near ski slopes – from a luxury cabin in Geilo, one of Norway’s premier ski resorts, to a large chalet in Valais, Switzerland
-
Cash hoarders take total UK savings to £2 trillion – why aren’t we investing?Investment-shy Brits are hoarding huge amounts of cash in their savings accounts. We look at the case for saving versus investing.
