Following positive financial results in Q3 2021, Benchmark has maintained this momentum in Q4 2021 and has delivered a stronger than expected trading performance across its three business areas driven by the Group’s continued strong commercial focus, disciplined cost control and further recovery in the Company’s end markets.
The Group’s Advanced Nutrition business area has continued to deliver excellent year on year growth while the Group’s Genetics business area delivered a strong end to the year, and in the Group’s Health business area, the Company achieved its first revenues from its sea lice treatment, Ectosan® Vet and CleanTreat®; all business areas delivered above the Board’s expectations in September.
As a result, whilst still subject to audit, the Group’s Adjusted EBITDA for FY21 is expected to be significantly ahead of the current market consensus which is £15.9m.
Trond Williksen, CEO, commented:
We are pleased by the continuing momentum in the business, which reflects the benefits of our clear commercial focus, having streamlined the organisation, our continued disciplined approach to cost control and good demand for our products in our recovering markets.
As a focused aquaculture biotechnology company with three strong business areas, we are well positioned to capture market opportunities and deliver profitable growth.
Read the full RNS here
