24 June 1998
Genus on the hunt with £8.4m war-chest

GENUS, the livestock-breeding and farm stock group, is on the hunt for another major purchase with £8.4 million to spend.

Richard Wood, chief executive, also claims Genus is on target to achieve annual turnover of £100m and a full Stock Exchange listing by 2000.

It is looking for a takeover target in the fields of animal welfare, veterinary distribution and environmental services.

The hunt is being driven by contraction in the companys core animal-breeding business.

Group turnover rose by almost £1m to £47.5m with operating profit up by 34% and pre-tax profit before non-recurring items up from £2.1m to £3.1m.

  • The Scotsman 24/06/98 page 28