StockMarketWire.com - Animal breeding and genetics specialist Genus reported a 29% increase in profit for the 12 months to 30 June 2021.

However, the company warned that volatility in the Chinese porcine market would create a short-term headwind in the current financial year with growth below the company's medium-term goal.

Pre-tax profit increased from £65.8 million a year ago to £84.8 million with free cash flow up 7% to £37.5 million and revenue up 4% to £574.3 million.

At constant currency pre-tax profit would have been up 38% with the company hit by weakness in Latin American currencies.

Genus noted that it 'continued to win new customers globally' thanks to its 'leading porcine and bovine genetics; genetic improvements contributing to the reduction in use of energy, water and land in animal protein production'.


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