The company, which provides products like semen and breeding animals that it claims have superior genetics to animals currently in production, reported a pretax profit of
However, its adjusted operating profit from continuing operations fell to
The adjusted figures exclude items including the valuation on biological assets, amortisation, and exceptional items. It also said its adjusted operating profit was up 2% at constant currency rates.
Genus has been expanding in
The company separately said it has signed a new strategic agreement with
"As the largest market for pork globally, we continue to see long-term growth potential in
Overall, Genus reported volume growth of 8% in its porcine business and 5% in dairy and beef during its last financial year. Adjusted pretax profit was up 4% in its overall pig business and and 6% in its dairy and beef business. The growth was 9% and 12%, respectively, at constant currency rates.
The company said it expects to perform in line with expectations in the current financial year, and it raised its total dividend for last year 10% to
"Dividend cover remains strong, with the dividend covered 2.6 times by adjusted earnings," it said. Cover was 3.0 times in the 2013 fiscal year.
Genus shares were up 1.3% at
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