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Benchmark Holdings PLC - Worthing, England-based aquaculture biotechnology - Pretax loss from continuing operations narrows to GBP12.7 million in financial year that ended September 30 from a restated GBP21.4 million the year before, as revenue rises by 7.4% to GBP169.5 million from GBP157.7 million. In addition to more money coming in, net finance costs are reduced to GBP7.7 million from GBP15.2 million. Ends September with GBP65.5 million in net debt, down from GBP73.7 million a year before.
Revenue in largest business area, Advanced Nutrition, declines by 2.2% to GBP78.5 million in recent year. Benchmark says shrimp market has been challenging, but it now is seeing early indications of improvement. More positively, Genetics revenue increases by 14% to GBP65.5 million, and Animal Health revenue by 27% to GBP25.5 million. Benchmark says the new financial year has started well, with positive momentum in all three business lines.
Current stock price: 35.94 pence, up 2.1% in London on Wednesday
12-month change: down 4.2%
By Tom Waite, Alliance News editor
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