Strong Financial Performance in H1 FY25
Adjusted operating profit grew 19% to GBP 45.2 million, and adjusted profit before tax grew 21% to GBP 35.4 million. This was a record first-half performance.
PIC's Impressive Growth
PIC achieved a 13% increase in operating profit excluding China, and a 9% volume increase overall. Latin America showed standout growth with a 13% operating profit increase in constant currency.
Value Acceleration Program (VAP) Success
VAP initiatives have delivered significant benefits, with GBP 6.3 million achieved in the first half, and an expected GBP 21 million run rate benefit by the end of the fiscal year.
Progress in PRP Commercialization
Significant progress with the FDA for PRP approval, with site inspections conducted and expected approval in 2025, marking a major opportunity from Genus's R&D program.
Improved Cash Flow and Debt Management
Return to positive free cash flow with improved working capital and inventory management, and a net debt to EBITDA ratio of 2x, within the target range.