Sheffield-based Benchmark Holdings, the aquaculture health, nutrition and genetics company, said its revenue increased 28% to £140.2 million in the year to September 30, 2017, and its loss for the year was reduced by 61% to £7.1 million.

Benchmark said the revenue increase was helped by £28.6 million from growth in Benchmark’s advanced nutrition business “driven by increased market share and demand for higher margin live feed replacement and health diets …” and strong growth in salmon genetics sales.

These advances were offset by reduced sales of health products “due to lower demand for the now mature sea lice treatment Salmosan.”

Benchmark CEO Malcolm Pye said: “2017 has been a year of significant operational and strategic progress for Benchmark Holdings. 

“Despite certain challenges, we have continued our focussed investment in the development of the group’s pipeline and have put in place important technological, infrastructure and organisational building blocks.  

“Benchmark is now one of the leading global providers of advanced nutrition, genetics and animal health in the industry.

“The organic growth delivered in the year and the  achievement of significant milestones, together with the increased activity in many of our key markets at the end of the year leaves us full of confidence going into the new financial year. 

“The continued growing global demand for aquaculture products, the disease challenges faced, and pressure to limit the use of antibiotics, puts the group in a strong position to drive growth for many years to come.”