China and India boost Genus profits
Wednesday 22 February 2012
Surging demand for pork, beef and dairy in China and India saw profits at the British animal breeding group Genus jump 22 per cent to £23.3m in the six months to December.
Karim Bitar, the chief executive, is completing a strategic review of the business, but said he can already see strong growth opportunities, particularly in emerging markets.
Mr Bitar said: "Global population growth and increased urbanisation in developing countries is accelerating demand for protein in diets. This demand increase and pressure on prices, driven by higher feed costs, can only be met through improved efficiency and greater application of technology in farming."
He pointed out that a litre of fresh milk now costs the same in India as it does in the UK as demand from a growing middle class soars.
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