The Genus plc Board has declared an unchanged interim dividend of 10.3 pence per share, which is payable on 4 April 2025 to shareholders on the register at 7 March 2025.
Other financial highlights include:
Adjusted operating profit including joint ventures increased 19% to £45.2m in actual currency, driven by broad-based growth in PIC and Value Acceleration Programme ("VAP") actions benefitting ABS
Adjusted profit before tax (PBT) increased 21% to £35.4m in actual currency (38% increase in constant currency)
Statutory PBT of £3.3m (FY24 H1: £14.3m) was impacted by a £16.0m decrease in the non-cash fair value IAS41 valuation of biological assets, principally bovine
Very strong cash generated by operations of £46.1m (FY24H1: £12m) and conversion of 102% (FY24 H1: 31%) resulting in a free cash inflow of £10.3m (FY24 H1: £12.2m outflow) which includes expected exceptional cash outflows of £15.2m (FY24 H1: £6.1m)
Net debt of £261.4m resulted in a net debt to adjusted EBITDA ratio of 2.0x (30 June 2024: 2.0x), as expected
