Genus Plc shares shot higher on Wednesday after the animal genetics firm said FY26 adjusted pre-tax profit was set to be "modestly ahead" of the £80.5m midpoint of current market expectations after a strong start to the year.
In an update for the four months to the end of October, Genus said trading in PIC (porcine genetics) remained strong, with every region achieving royalty revenue and adjusted operating profit growth.
The division performed particularly well in China, with strong royalty revenue growth being a key driver.
However, adjusted operating profit in ABS - the bovine genetics segment - has been slightly lower than expected due to phasing. Genus said it expects a step-up in performance in the second half.
Chief executive Jorgen Kokke said: "Genus has made a strong start to the year with PIC continuing to demonstrate its robust growth model.
"ABS profit performance has been slightly lower than expected but we expect stronger performance in the second half. We look forward to the rest of the year with confidence."
At 0815 GMT, the shares were up 5% at 2,495p.