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  • 16 May 19

LIBERUM: Genus* - PRRSv-resistance for China

Genus has announced a collaboration with Beijing Capital Agribusiness (BCA) to commercialise PRRSv-resistant pigs in China. BCA will bear full development and regulatory costs and will pay Genus $20m upon milestones.

Companies: Genus
  • 25 Mar 19

LIBERUM: Genus* - CEO to step down in September

Genus has announced that its CEO of eight years, Karim Bitar, will step down from the Board as of 16th September 2019 in order to take up a position as CEO of the UK medical device company, ConvaTec. Under his leadership, Genus has significantly enhanced its position as a global leader in animal genetics, growing earnings with a CAGR of 8% and driving a re-rating of its shares from a PER of c.20x to c.30x.

Companies: Genus
  • 05 Mar 19

LIBERUM: Genus* - Beefing up the growth outlook

The risk to Genus’s long-term estimates appears on the upside. This is despite African Swine Fever (ASF) in China keeping a lid on ST forecasts.

Companies: Genus
  • 28 Feb 19

LIBERUM: Genus* - Solid 1H19 despite ASF disease headwinds

Adj. group EBIT flat yoy is impressive given PIC Asian profits fell 40% (£3m) due to African Swine Fever in China. Had it not been for ASF, adj. operating profit would have risen 12% driven by soaring growth of sexed semen and beef genetics in ABS and market share gains in PIC Europe & Latin America.

Companies: Genus
  • 07 Dec 18

LIBERUM: Genus* - 5% equity placing to enhance balance sheet flexibility

Genus has announced it has raised £68m through a placing of 5% of its issued share capital. The company was robustly financed (1.4x net debt / EBITDA as of June 2018) and we had forecast this ratio rising closer to 2.0x during FY19 following the Mollevang acquisition and planned uplift in capex.

Companies: Genus
  • 15 Nov 18

LIBERUM: Genus* - Reassuring update notwithstanding ASF in China

The summary from the AGM statement is that Genus expects to perform in line with its growth expectations for the current financial year. This is despite further spread of African Swine Fever (ASF) in Chinese pigs which has led to lower PIC profits in the region.

Companies: Genus
  • 15 Nov 18

VSA Morning Agri Comment

Genus (GNS LN), the developer and marketer of animal breeding and genetic products for the porcine and bovine industries, has announced a trading update for the period 1 July to 14 November 2018, ahead of its AGM later today.

Companies: Genus
  • 25 Sep 18

PIC caution drives 4% downgrade, medium-term outlook remains bright

We have updated forecasts following Genus’ FY results on 6th September, assuming a more conservative short-term stance on Genus PIC (incl. China JV performance), with continued expected headwinds from the ASF outbreak in China, trade disputes and Latin America FX. We note that the share price has fallen by 12% since our downgrade to Hold on 22nd August, ahead of FY results. Although we expect improving returns over the medium term, we reiterate our Hold recommendation with a reduced target price of 2,371p (from 2,469p, -4.0%).

Companies: Genus
  • 25 Sep 18

Morning Song

A G Barr (BAG LN) | Directa Plus (DCTA LN) | Genus (GNS LN) | RhythmOne (RTHM LN) | Sigma Capital Group (SGM LN) | Speedy Hire (SDY LN) | Swallowfield (SWL LN) | WYG (WYG LN)

Companies: BAG DCTA GNS RTHM SGM SDY SWL WYG

  • 12 Sep 18

Karim Bitar, Genus* CEO, discusses the impact of African swine fever on Chinese pork production

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  • 06 Sep 18

LIBERUM: Genus* - Strong FY18; Market swings bring short-term caution yet LT opportunities

Another strong year, in line with market expectations. FY18 revenues were +6% yoy in l.c. with adj PBT +9% to give adj EPS +15% and div +10%. ABS was the main contributor to growth while EU & LatAm PIC displayed strong royalty expansion (+32% and +15% yoy).

Companies: Genus
  • 06 Sep 18

VSA Morning Agri Comment

Genus (GNS LN), the developer and marketer of animal breeding and genetic products for the porcine and bovine industries, has announced its full year results for the period ended 30 June 2018 (FY 2018).

Companies: Genus
  • 22 Aug 18

Morning Song

Genus (GNS LN) Downgrade to Hold on valuation grounds | PROACTIS Holdings (PHD LN) More detail on FY18, forecasts updated for outturn and acquisition

Companies: Genus Proactis

  • 09 Jul 18

Genus PLC - Capital Markets day 2018

genus-plc-capital-markets-day-2018-09-07-2018
  • 02 Jul 18

Genus CFO - Stephen Wilson

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Research, Charts & Company Announcements

Research Tree provides access to ongoing research coverage, media content and regulatory news on Genus. We currently have 96 research reports from 3 professional analysts.

Open
N/A
Range Today
N/A
52 Week
2098/2884p
Daily Volume
N/A
# Shares
65.1m
Daily Liquidity
(0.08%)
Pension Liability
£40.9m
Enterprise Value
£1,883m
Market Cap
£1,647m
Latest PE (hist)
41.32
Div Yield
0.82

Latest News/RNS

(more news)
Date Source Announcement
01Aug19 17:49 RNS Block listing Interim Review
01Aug19 17:46 RNS Total Voting Rights
30Jul19 12:12 RNS NOTIFICATION OF MAJOR HOLDINGS
09Jul19 17:12 RNS Notification of Major Holdings
03Jul19 07:00 RNS Notification of Major Holdings
01Jul19 13:45 RNS Total Voting Rights
18Jun19 15:29 RNS Notification of Major Holdings
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  • 23 Jul 19

Quarterly Research Outlook - Summer 2019

In January, we provided a list of 11 stocks for 2019 that we believed would perform strongly with attractive catalysts that could lead to material outperformance. In this Quarterly Research Outlook, we revisit these views, analysing what has happened and how the remaining six months of the year could play out.

Companies: AMS ANX ARS ATYM AVON BLVN PIER BUR CGS CAML CALL CSRT TIDE CYAN DTG DEMG ELM EMR FPO FST GTLY GENL GRI GEEC GKP HMI HAYD HEAD HILS HTG HUR HYR IBPO IOG INDI JHD JOG KAPE KEYS KCT KGH LAM LIT LOK MACF MANO PCA PANR PXC PHC PMO RBW RMM REDD RSW RNO RKH RBGP ROR SUS SCPA SHG SOLG SOM TWD TRAK TSG TRI VNET VTC ZOO ZTF

  • 02 Jul 19

Where’s the Value?

Warren Buffett once said that as an investor, it is wise to be ‘fearful when others are greedy and greedy when others are fearful’. Fear is not in short supply right now.

Companies: OPM ALU ANCR BLV CONN CRC FDL GATC HAT LEK MMH MCB MWE NXR NTBR NOG PAF PEG RFX SRC TEF TEG TPT VTU WYN XLM

  • 13 Aug 19

Q3 Headwinds

Benchmark Holdings, the specialist in aquaculture nutrition genetics and health, has provided a Q3 trading update. As previously flagged, weak markets in shrimp, sea bass, and bream continue to impact demand and pricing for the group’s live feed products. Added to this, the oversupply of lower priced Artemia sourced from Russia meant that a higher proportion of revenue came from lower margin live feed.

Companies: Benchmark
  • 15 Aug 19

Small Cap Feast


Companies: THR TRX KIBO VNET ALS PGR OCI JAN KRS IHC

  • 08 Aug 19

Nearing the end-goal

AVO’s goal is to deliver an affordable and novel proton beam therapy (PBT) system, based on state-of-the-art technology developed originally at the worldrenowned CERN. 2018 was characterised by the achievement of a number of technical milestones, including successful integration and validation of all the module types that constitute the LIGHT accelerator, thereby de-risking the project. AVO is delivering on its schedule to have the first LIGHT machine set up in Daresbury (Cheshire) ready for treating first patients by the end of 2020, while completing the final building stage at the Harley Street site.

Companies: Advanced Oncotherapy
  • 01 Aug 19

THE MONTHLY August 2019

The introduction of IFRS 2 in 2004 generated considerable debate about the best approach for handling ‘share-based payments’ (SBP). While it is clearly a cost to shareholders, which should be included in the statutory reporting lines through the P&L account, the question arose as to whetherit should be part of our underlying EBIT calculation.

Companies: AVO AJB AGY ARBB CLIG DNL DPP FLTA GTLY GDR KOOV MCL MUR NSF OXB PCA PHP RE/ REDX RMDL STX SCE TRX TON SHED VAL VTA W7L

  • 13 Aug 19

Carrying momentum into H219

Hutchison China MediTech (Chi-Med) H119 results highlight ongoing financial and operational progress. First China NDA filings for surufatinib and savolitinib are on track for H219 and H120 respectively, following in the footsteps of Elunate’s November 2018 launch. Global registration studies of surufatinib and fruquintinib will also initiate in H120. Investment into the maturing China Oncology and Global Innovation pipelines means future R&D spend will continue to grow, but Chi-Med is well-funded with flexibility surrounding future funding options. These are not limited to a future Hong Kong IPO, but include prospects of enhanced revenues from Elunate (post potential NRDL inclusion in Q4) and near-term China approvals/launches, plus possible non-dilutive finance from non-core asset divestment (eg OTC). Our valuation remains $38.55/ADS ($5.14bn) or £5.93/share (£3.95bn).

Companies: Hutchison China Meditech
  • 14 Aug 19

Robust performance of generics in H1 19

Hikma reported a strong performance in H1 19, with revenue growth of 8% (at CER), primarily attributable to a better-than-expected performance of Generics (+11%), along with an in line performance of Injectables (+7%) and Branded (+6%). Lower COGS, due to the closure of the Eatonton facility, along with a higher non-operating income, trickled down into higher profitability (at the reported level). Management upgraded its FY 19 guidance on the back of strong results across the portfolio.

Companies: Hikma Pharmaceuticals
  • 14 Aug 19

Small Cap Feast


Companies: SSY QFI SRB GFIN THR XSG LMS RENE OEX SO4

  • 16 Aug 19

Omega Diagnostics - Trading update - VISITECT CD4 purchase order

Omega Diagnostics announced that it is deferring its preliminary results, which were expected on 19 August, until September to give further time to gain clarity regarding certain ongoing commercial discussions and other post-balance sheet events. The company confirmed that the FY 2019 results were as indicated at the 17 April trading update and that trading in Q1 2020 is in line with expectations. More exciting and relevant to the investment case, however, is confirmation that it has received two purchase orders for VISITECT CD4 in Nigeria and for Food Detective in China, worth c.£0.5m. Whilst the Nigerian order is conditional on receiving approval, which is in process, we expect this to represent the beginning of the roll-out of its VISITECT CD4 range that will ultimately be bought at scale by NGOs. We leave our target price under review pending clarity over timing and FY results.

Companies: Omega Diagnostics Group
  • 11 Jul 19

Diversification and scale for online success

The global online gaming market generated c £40bn of gross gaming revenues (GGR) in 2018 and newly regulating markets (the US) are expected to contribute to 7% CAGR to 2023 (according to H2 Gambling Capital (H2GC)). However, while regulated markets have provided significant opportunities for operators to date, government intervention remains a constant threat and legislation is tightening. Some mature markets (notably the UK) have been raising taxes and implementing regulatory burdens, which increases the cost of business. In our view, success will depend on a combination of scale, diversification, proprietary technology and a strong balance sheet. Many of the 12 operators in this report should benefit from these dynamics and sector valuations remain attractive, at 12.6x P/E, 8.2x EV/EBITDA and 6.0% dividend yield for FY19.

Companies: 888 ACX BETSB ORPH GVC JPJ OPAP PTEC RNK WMH

  • 13 Aug 19

A FemTech revolution in fertility

We believe that Concepta’s myLotus monitor, tests and App represent the most powerful home-based fertility aid available in the market today; helping women to identify their fertile days with absolute accuracy and results comparable to hospital-based tests. myLotus sets out a new technically advanced product versus the less accurate and traditional fertility methods currently available. This platform combined with the option of support by qualified medical professionals represents a step change in enabling women who are trying to conceive to take control of their own fertility journey.

Companies: Concepta
  • 14 Aug 19

An early-adopter in the growing microbiome field

4D pharma plc is a drug developer of live biotherapeutic products (LBPs), using individual bacteria strains to target certain diseases. The microbiome is a growing and exciting field of drug development and medicine, and 4D pharma is wellpositioned as an early adopter to become a market leader with its diverse portfolio of potentially disruptive LBPs. We believe there are multiple opportunities for value creation and potential upside, and that pending proof-of-concept data and business development would add significant endorsement to the Group’s investment case.

Companies: 4D Pharma
  • 12 Sep 18

Buying opportunity in structural growth market leader

Medica is the UK market leader in teleradiology, providing outsourced image analysis and reporting services to the NHS and private sector. It is benefitting from structural growth in demand for complex medical images and an NHS struggling to manage workflows efficiently. We view the current share price weakness as being temporary and offering a strong buying opportunity. The valuation is very attractive given the strong mid-teens organic growth outlook. We initiate coverage with a Buy recommendation and 186p TP, offering a TSR of 30%.

Companies: Medica Group
  • 27 Mar 19

Rally seen in the first quarter stalls

Parliamentary and Brexit developments continue to hold centre stage, although the precise path forward remains as unclear as ever. The uncertainty over Brexit, worries over a possible slowdown in the US and the outlook for global economic growth generally have all contributed to the recent falls in markets. While the rally seen since the start of the year has petered out, most indices have still made progress. In Share News & Views we comment on Bloomsbury Publishing, Bonhill Group*, Braemar Shipping Services*, Burford, Clarkson, LightwaveRF*, Marshall Motor Holdings and Synectics*.

Companies: AOR APC BONH BMS CTG CRPR DMTR ESC EUSP FDM FA/ LWRF LSAI NKTN PCF SNX TCN VRE W7L