Genus PLC

Latest Results (14.08.2024):

Revenue Growth

Genus PLC reported a significant increase in revenue for the year ended 30 June 2023, with a rise of 10% in constant currency and 16% in actual currency, reaching £689.7 million compared to £593.4 million in the previous year. This growth was driven by strong demand across all regions and strategic investments in their product offerings.

Operating Profit

The company's adjusted operating profit, including joint ventures, saw an increase of 3% in constant currency and 10% in actual currency, amounting to £85.8 million. This improvement reflects the company's successful expansion and strengthening of commercial relationships globally.

Profit Before Tax

Genus PLC's adjusted profit before tax remained flat in actual currency but was 8% lower in constant currency, primarily due to a 124% increase in net finance costs. Statutory profit before tax decreased by 19% to £39.4 million, influenced by a reduction in the non-cash fair value IAS41 valuation of the Group’s biological assets.

Cash Flow and Debt

The company reported a free cash inflow of £18.2 million, a significant improvement from the £13.5 million outflow in the previous year. This was attributed to record high adjusted EBITDA, lower working capital outflows, and reduced capital expenditure. The net debt to EBITDA ratio improved to 1.6x, within the target range of 1.0x-2.0x.

Dividend and Earnings Per Share

Genus PLC maintained its full-year dividend at 32.0 pence per share, with adjusted earnings per share rising by 3% in actual currency. The dividend cover was comfortably within the target range, reflecting the company's strong financial health and commitment to returning value to shareholders.