During our last financial year, progress against our strategic objectives included:
CREATE DIFFERENTIATED AND SUSTAINABLE PROPRIETARY GENETIC SOLUTIONS
- Accelerated rates of genetic gain for all traits, including our focus on piglet survivability and total carcass value.
- Established our PIC800 boar, which integrates the best Duroc genetics from PIC and Møllevang, as the world’s leading Duroc terminal sire.
- Expanded our range of elite genetic facilities to enhance resilience of supply for customers around the world.
- Began our strategic collaboration with BCA to research, develop and commercialise PRRSv resistant pigs in China.
SERVE PROGRESSIVE PROTEIN PRODUCERS EFFECTIVELY
- Agreed a joint venture with Shanxi Daxiang to expand and strengthen our supply chain in China.
- Grew revenue in North America by 3%, through increased sales of both male (PIC800) and female (Camborough) products.
- Increased volume growth in Europe by 10%, aided by offering complementary PIC and Møllevang product lines to customers across the region.
- Grew profits in Latin America by 23% as we continued to capture more genetic value per pig and won more accounts.
- Increased profits in Asia by 225%, aided by resurgence of demand in China following the impact of African Swine Fever ('ASF').
SHARE IN THE VALUE DELIVERED
- Continued to increase the use of royalty contracts, with notable progress in China, where 25% of our business is now conducted on this basis.
- Launched CBV Max, the programme providing our most elite genetics, in Europe.
- Conducted a further 36 product trials, involving over 76,500 pigs, to demonstrate the superior performance of PIC products in customer production systems.