Accelerating growth

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.
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