Foot-and-mouth hits pig breeder's profits

Pig breeder PIC International says the foot-and-mouth crisis has wiped £750,000 from its profits in only five weeks.

The firm supplies both pig semen and boars to pig producers around the world, generating 16% of its profits within the European Union.

It says the transport bans and restrictions put in place following the outbreak of the disease in the UK, France, Holland and Ireland has had hit trading in its third quarter.

The group, based in Abingdon, Oxfordshire, says the impact of the outbreak in the coming weeks will depend on the length of the crisis and the effect an export ban has on pork prices.

Chief executive Philip David says: "Our approach is to co-operate with all the authorities and support the industry by doing all we can to help minimise the threat to our customers, and our businesses."

A spokesman says PIC International could even benefit from an increase in demand when foot-and-mouth disease eventually subsides.

"If a producer's herds have been damaged by the disease, they could use PIC to rebuild them," he says.

Last month, PIC International reported a pre-tax profit of £3.8m for the first half of its financial year, down from £8.9m the year before.

It had been forecast to turn in a pre-tax profit for the year to June 10 of £5.7m.