Genus reports robust profit growth despite revenue dip driven by China deconsolidation

Genus has announced a 35% rise in pre-tax profit and increased dividends and buybacks, as its porcine and bovine genetics divisions boost profitability despite a slight revenue decline linked to China joint venture changes.

Genus has reported a sharp rise in annual profitability and cash generation for the year to 30 June 2026, even as revenue edged lower after the deconsolidation of PIC China. According to the company, adjusted profit before tax rose 35% to £100.2 million, while adjusted earnings per share also increased 35% to 110.3p. Revenue slipped 2% to £658.1 million.

The strongest contribution again came from PIC, Genus’s porcine genetics arm, where adjusted operating profit climbed 17% to £130.8 million and margins improved to 30.9%. Chief financial officer Andy Russell said the top-line decline mainly reflected the China joint venture change, rather than underlying weakness in the business.

Genus also benefited from its bovine genetics division, ABS, where adjusted operating profit rose 17% to £22.9 million. Management said the Value Acceleration Programme continued to support margins, while sexing volumes increased modestly.

The board proposed a 10% increase in the full-year dividend to 35.2p a share and launched a £60 million share buyback. Net debt fell to £71.8 million and leverage to 0.4 times EBITDA.

Looking ahead, Genus expects moderately higher adjusted profit before tax in FY 2027, with growth weighted to the second half.