Genus posts drop in profit

GENETICS company Genus yesterday posted a fall in pre-tax profit, as it expanded its footprint into the Chinese pig market.

Pre-tax profit fell to £23.1m over the six months to December, down one per cent from the same period in 2011, as it was hit by higher feed costs and increased spending on research and development.

Genus announced it had netted a second joint venture agreement in China further growing its presence in key markets.