Animal vaccine maker Genus chalks up another major milestone

Shares in animal genetics company Genus (GNS) have risen 75% this year after a succession of positive trading updates.
In January, the firm said first-half trading to the end of December had been ahead of expectations meaning profit for the year to June would be at the top end of forecasts, sending its shares up 20% on the day.
It followed this up in April with news the US FDA (Food & Drug Administration) had approved its anti-PRRS pig vaccine sooner than expected, leading analysts to pencil in a substantial increase in operating profits and their fair value estimates for the shares.
On 4 September, Genus reported forecast-busting full-year earnings thanks to continued strong trading in the second half, along with record free cash flow, sending its shares up 12% on the day.
The firm also revealed it had formalised a deal with its strategic partner in China, one of its biggest markets, to accelerate the roll-out of its anti-PRRS pig vaccine.
As part of the agreement, Genus will receive a gross cash payment of $160 million next year which could be used to reduce its net debt or potentially to increase shareholder returns.
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