GCIFTSE 250 movers: Genus slumps; Indivior rallies
FTSE 250 (MCX) 21,115.29 -0.46%
Animal genetics firm was under the cosh after it said profits this year would be lower than expected due to ongoing market challenges in China and Brazil.
The company, which uses gene-editing and genomic science to improve breeding for lifestock farmers and food producers, said its PIC or pigs division performed in line with expectations over the fourth quarter ended 30 June, though the porcine market in China "continues to be challenging".
Meanwhile, in ABS, which comprises dairy and beef cattle operations, the company experienced lower volumes in the second half compared with last year, as weak demand persisted in several countries, most notably China and Brazil, which impacted profits.
Nevertheless, Genus still guided to a full-year adjusted pre-tax profit of between £58m and £61m, in line with market expectations. "This shortfall in ABS adjusted operating profits was offset by the realisation of early savings as a result of actions taken following the R&D strategic review completed in February 2024," the company said.
Genus said it expects a "significant improvement" in ABS's profit position in the current financial year. However, both ABS volumes and the group's overall adjusted operating profit are estimated to be lower than previously estimated in the year ending June 2025 "due to the continuation of weak demand in several countries, including China and Brazil".
Indivior rallied after a profit warning last week along with signalling a slowdown in sales of its top-selling opioid addiction treatment, and said it would discontinue sales of its schizophrenia drug Perseris. The stock is still well below the 1181p level before the announcement.
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