LONDON (dpa-AFX) - Animal genetics company Genus plc (GNS.L) reported Wednesday that its first-half profit before tax climbed 25 percent to 14.3 million pounds from 11.4 million pounds last year.
Basic earnings per share surged 419 percent to 69.0 pence from 13.3 pence a year ago, reflecting non-cash deferred tax credits following the recently announced tax reforms in the United States.
Adjusted profit before tax was 29.0 million pounds, compared to 25.1 million pounds a year ago. Adjusted earnings per share were 40.9 pence, compared to 30.5 pence a year ago. The results were benefited by a strong performance in Genus ABS reflecting management actions and improved dairy market conditions.
Revenue for the first half grew 7 percent to 238.6 million pounds from 222.1 million pounds last year. Revenues grew 10 percent on a constant currency basis. Bovine revenues went up 13% and Porcine revenues grew 3% with increased royalty revenues in all regions.
Further, interim dividend increased 9.5% to 8.1 pence per share, payable on April 4.
Looking ahead, Karim Bitar, Chief Executive said, 'We anticipate performing in line with our expectations in the full year on a constant currency basis, but now expect actual currencies to be a headwind for the year.'
Copyright RTT News/dpa-AFX
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