Last checked at 18 Oct 2021 07:00
18 October 2021
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", the "Company" or the "Group")
Trading Update and Notice of Results
FY21 Results expected to be significantly ahead of market expectations
Continued good momentum across all business areas
Benchmark, the aquaculture biotechnology business, is pleased to provide an update ahead of its full year results for the year ended 30 September 2021, which will be announced on 29th November 2021.
Following positive financial results in Q3 2021, the Company 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."
Notice of Results and details of analyst / investor call
The Company will announce its full year results on 29 November 2021. Trond Williksen, Chief Executive Officer and Septima Maguire, Chief Financial Officer will host a webcast for analysts and institutional investors on that day at 8:30am UK time. To register your interest, please contact benchmark@mhpc.com.
Enquiries
For further information, please contact: |
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Benchmark Holdings plc | Tel: 020 3696 0630 |
Trond Williksen, CEO |
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Septima Maguire, CFO |
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Ivonne Cantu, Investor Relations |
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Numis (Broker and NOMAD) | Tel: 020 7260 1000 |
James Black, Freddie Barnfield, Duncan Monteith
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MHP Communications | Tel: 020 3128 8990 / 8742 |
Katie Hunt, Reg Hoare, Alistair de Kare-Silver benchmark@mhpc.com
About Benchmark
Benchmark is a leading aquaculture biotechnology company. Benchmark's mission is to enable aquaculture producers to improve their sustainability and profitability.
We bring together biology and technology to develop innovative products and solutions 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), specialist diets and probiotics and sea lice treatments. Find out more at www.benchmarkplc.com