H1 revenue up 9% to £76m at Sheffield’s Benchmark

Sheffield-based Benchmark Holdings, the aquaculture health, genetics and nutrition firm, said its revenue increased 9% to £75.7 million in the six months ended March 31, 2018.

Adjusted EBITDA increased to £6.3 million from £3.3 million in the same period of the previous year.

Loss before taxation fell to £5.6 million from  £8.9 million.

On June 8, 2018, Benchmark announced a breeding and genetics joint venture with Empresas AquaChile and a placing to raise £19 million.

Chile is the world’s second largest salmon market and AquaChile is the world’s sixth largest salmonid producer.

Benchmark CEO Malcolm Pye said: “The group has delivered good organic revenue growth and improving profitability on an adjusted basis, while we continued to invest in our pipeline of new products and infrastructure.

“The outlook for the group is positive as the drivers for our business are stronger than ever before, with continued growth in aquaculture and increasing recognition from consumers, producers and regulators of the need for sustainable solutions to enable future growth. 

“We also expect to benefit from the recently announced, strategically important Chilean JV. 

“Overall, we remain on track to achieve our expectations for the current year, and are confident of Benchmark’s capacity to generate attractive returns in the years to come.”