Strong Financial Performance
Adjusted operating profit grew 19% in actual currency to GBP 45.2 million, and adjusted profit before tax grew 21% in actual currency to GBP 35.4 million. Group adjusted operating profit increased 31% in constant currency.
Porcine Segment Growth
PIC achieved a 13% increase in operating profit in H1 excluding China, with new royalty contracts signed with 3 of the top 5 producers in China.
Value Acceleration Program (VAP) Achievements
VAP is on track to deliver GBP 21 million run rate benefit by the end of this fiscal year, with a notable improvement in bovine cash flow from better inventory management.
FDA Progress on PRRS Resistant Pig (PRP)
The FDA has accepted the environmental assessment and conducted site inspections of PRP facilities, with expected approval in calendar year 2025.
ABS Segment Recovery
ABS achieved strong sexed growth with a 13% increase, and adjusted operating profit grew 38% in constant currency and by 18% in actual currency to GBP 8.6 million.
Acquisition of Minority Interest in De Novo
Genus acquired the minority interest in ABS' De Novo joint venture, enhancing control and benefits of full ownership.