Animal genetics and biotech company Sygen International plc announced group profit before tax, amortisation and exceptional items for the first half of the financial year ending 30th June 2005 was up 23% to £4.8 million at constant exchange rates. Profit before tax and exceptional items was £3.7 million, reflecting growth in the core PIC business and continued investment in Sygen's aquaculture division, SyAqua.

SyAqua had an operating loss of £0.9 million up from £0.5 million in the same period in 2004. The company says the increase in the operating loss in the first half of the year was in line with overall expectations. Planned expansion and investment in Thailand, the world's largest shrimp producing market, remained on track during the first half of the year. The construction of the first company-owned hatchery was completed, as was the successful importation from Hawaii of 10,000 pure line shrimp for breeding stock needed to commence Thailand's genetic improvement program.

SyAqua now has functional genetic improvement programs in all three SyAqua businesses. The business in Mexico performed on plan whilst the business in Brazil had a challenging first half due to a disease outbreak across the country that impacted some customers' farms.