Genus Share News (GNS)

Animal breeding firm Genus has traded in line with expectations in the first four months of the year and said it remains very positive about it's long-term growth prospects. In North America, the porcine business traded well and is now experiencing increased demand from customers.Weakness in US milk prices continued to hold back dairy semen sales, the impact of which is being mitigated by tight control of costs and a relatively buoyant business in beef semen, according to the group. In Latin America, Genus is benefiting from increased demand. Trading in Europe has been in line with expectations. In the Far East, Chinese dairy semen sales improved strongly. However porcine performance was reduced by low pig prices. "Genus' performance has continued to be resilient throughout the recession in world agricultural markets," the group said. "In addition, the group's continued investment in research and product development and its leading market position have left it well placed to benefit from the now evident market recovery and a return to the long term growth expected for the markets in which it operates."