Last checked at 12 Aug 2019 07:00
12 August 2019
Information within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulations (EU) No. 596/2014.
Benchmark Holdings plc
("Benchmark" or the "Company")
Q3 Trading Update
Benchmark, the aquaculture health, nutrition and genetics business today provides the following Q3 trading update.
The Company has continued to face challenging conditions in the global shrimp and Mediterranean seabass/bream markets, as outlined in its half year results in June 2019, which has impacted sales volumes in Advanced Nutrition. Additionally, the Company is experiencing a reduced contribution from trials of certain pre-license pipeline products within Animal Health, as a result of making good progress towards satisfactorily concluding trials with fewer treatments than expected, and from delays in commencing trials in several territories.
The Company's expectations of the revenue and profit mix for the full year have also changed. The Company is actively progressing its programme of operational and structural efficiencies, including key commercial licensing deals for its non-core animal vaccines, which, if completed this financial year, are expected to substantially offset the negative variance referred to above. However, there is a risk to the delivery of these deals within the current financial year.
Notwithstanding these short-term challenges, the Board believes that the Company is well positioned in its markets and the opportunities for its existing products and those coming from its pipeline are strong. The Company continues to progress delivery of its five year strategy to drive future growth and profitability.
Enquiries
For further information, please contact: | |
Benchmark Holdings plc | Tel: 020 3915 1236 |
Malcolm Pye, CEO | |
Mark Plampin, CFO | |
Ivonne Cantu, Investor Relations | |
Numis (Broker and NOMAD) | Tel: 020 7260 1000 |
James Black, Freddie Barnfield, Freddie Naylor-Leyland
| |
MHP Communications | Tel: 020 3128 8742 / 07551 170 451 |
Katie Hunt / Reg Hoare / Alistair de Kare-Silver benchmark@mphc.com
About Benchmark Benchmark's mission is to enable food producers to improve their sustainability and profitability.
We bring together biology and technology, to develop innovative products which improve yield, quality and animal health and welfare for our customers. We do this by improving the genetic make-up, health and nutrition of their stock - from broodstock and hatchery through to nursery and grow out.
Benchmark has a broad portfolio of products and solutions, including salmon eggs, live feed (artemia), sea lice treatments, training and data management tools. Find out more at www.benchmarkplc.com