Benchmark Holdings hail ‘positive’ start to 2021

Benchmark Holdings has reported revenue of £29 million for the three months ended 31 December 2020 – up from £24.7 million in the same period of 2019/20.

In its latest trading update, the Sheffield-based aquaculture health, nutrition and genetics business revealed that adjusted EBITDA from continuing operations was £3 million –  compared to £4000,000 the year prior, with pre-tax losses from continuing operations reducing to £500,000 from £3.2 million.

The listed company said that growth was largely driven by an improvement in certain markets where COVID-19 restrictions have eased and timing of restocking at distributors year-on-year.

Moreover, the company benefitted from new client wins in land-based salmon farming segment and the start of production of salmon eggs from its new genetics facility in Chile.

“We have had a positive start to 2021 with good trading, improved Q1 profitability and delivery against our strategic priorities in each of our three business areas,” said Trond Williksen, Chief Executive at Benchmark Holdings.

“The benefits of operating as a streamlined, increasingly integrated aquaculture business are starting to be realised.

“Our focus remains on becoming sustainably profitable, maintaining financial strength through the ongoing pandemic and continuing to invest selectively in our business to deliver future growth.”