FY24 results: refocus post disposal

Benchmark Holdings reported FY24 revenue from continuing operations of £90.4m, -13%YoY (currency adjusted, CER, -6%YoY), and (adj.) EBITDA of £11.9m, -30%YoY (CER: -24%YoY reflecting the decline in revenue in the Health business (-57%YoY) and changes in Advanced Nutrition product mix. Net debt was reduced from £65.5m in FY23 to £49.0m due to the impact of the discontinued Genetics business removing debt related to the Saltern facility. The focus is now on the structure of operations post sale of the Genetics business area, streamlining the organisation and reducing costs. Post-divestment our revenue and (adj.) EBITDA outlook is determined principally by two factors: trends in the overall market for shrimp (demand and prices), and contributi...