Last checked at 8 Sep 2017 07:00
RNS
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")
Trading Update
Benchmark, the aquaculture biotechnology and food chain sustainability business, issues the following trading update for the year ending 30 September 2017.
Overall performance across the Group has been good, with strong growth in sales in the Breeding and Genetics Division, and improved market conditions for the Advanced Animal Nutrition Division in the second half.
The Animal Health Division continues to manage a valuable portfolio of products in development, and the board remains confident of delivering the Company's medium and long term strategy of an increasingly diversified portfolio of both products and services. The Group is approaching the launch of commercial field trials of its innovative new sea lice treatment, and is closely engaged with major salmon producers, with the bulk of the equipment and licences for the trials now in place. Management are confident that commercial field trials will start before the end of December 2017, although the exact timing of these trials remains unclear and they are unlikely to commence before the end of September. Consequently, contributions attributable to this new product are unlikely to be recognised in FY17.
As a result, the Company is providing guidance that it expects Group revenues to be in line with market expectations, and adjusted EBITDA to be in the range £8.7m to £9.3m, for the full year.
-ENDS-
Benchmark Holdings plc | Tel: 020 7920 3150 |
Malcolm Pye, CEO | |
Rachel Aninakwah, Communications | |
Numis | Tel: 020 7260 1000 |
Michael Meade / Freddie Barnfield (NOMAD) | |
James Black (Corporate Broking) | |
Tavistock | Tel: 020 7920 3150 |
Niall Walsh / Simon Hudson |
Notes to Editors:
Benchmark challenges the status quo in aquaculture, agriculture and animal healthcare.
Since 2000, Benchmark has consistently worked to build a platform to serve its customers, helping farmers to take control of their biological environment through the combination of genetics, nutrition, health and knowledge services. Through its in-depth knowledge of animal biology Benchmark is able to tackle the key issues in the aquaculture, livestock and companion animal sectors.
The Company has proven distribution capabilities in high growth markets and operates internationally with R&D facilities, commercial farms, diagnostic laboratories, manufacturing sites, production facilities and commercial offices across 27 countries in five continents. As at 30 June 2017, Benchmark employed 951 people.
For further information on Benchmark please visit www.benchmarkplc.com