Genus lifts dividend, starts GBP60 million share buyback as profit up

Genus PLC launched a new share buyback programme on Thursday, as it posted higher annual profit.

The Basingstoke, England-based animal biotechnology and genetics company said pretax profit multiplied to £310.5 million in the financial year ended June 30 from £28.5 million a year prior.

Adjusted pretax profit rose 35% to £100.2 million from £74.3 million, while adjusted operating profit was up 25% at £94.8 million compared to £81.1 million.

Revenue slipped 2.2% to £658.1 million from £672.8 million.

Genus highlighted that there was a £204.1 million gain recognised on the sale of a 51% stake of its PIC China business in financial 2026, boosting statutory pretax profit.

Further, Genus reported a £12.8 million increase in a certain non-cash fair value of its biological assets, compared to a decrease of £13.3 million in financial 2025.

Alongside its annual results on Thursday, Genus declared a higher dividend and announced the start of a £60 million share buyback programme on Thursday. The buyback will be run by JP Morgan Securities PLC and expected to be completed during the second half of its current financial year.

Genus raised its final dividend by 11% to 24.0 pence per share, resulting in a 10% increase to its full-year dividend to 35.2p from 32.0p.

Calling the annual performance "strong", Chief Executive Jorgen Kokke said: "We formed our strategic porcine joint venture in China and received further global regulatory approvals for our pioneering PRP gene edit. Our balance sheet has also been significantly strengthened through another year of very strong organic cash generation as well as the proceeds from the formation of our porcine joint venture in China."

PRP are gene-edited pigs that are resistant to the Porcine Reproductive & Respiratory Syndrome. ABS, which is also important to the company, is Genus's bovine genetics business that sells dairy and beef bull semen and embryos from cattle, so farmers can breed cows via artificial insemination.

Looking ahead, Genus expects adjusted pretax profit in constant currency for financial 2027, which started on July 1, to be in line with market consensus expectations of between £87.0 million and £96.6 million.

Genus expects normalised adjusted pretax profit to be moderately higher than £90.3 million in financial 2026.

Genus shares were down 5.8% to 2,103.68 pence each on Thursday morning in London.

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