Benchmark expects 'significant growth' from last trading year

Benchmark Holdings expects to report "significant growth" in both revenues and earnings from its recently wrapped up trading year.

The AIM-listed aquaculture outfit expects revenue to have improved at least 7% to £150m, while adjusted EBITDA is projected to have risen 65% to £140.2m.

Benchmark's advanced nutrition division saw earnings grow as a result of improved sales of its premium specialist diets for shrimp, sea bass and sea bream, while its genetics division reported that demand for its sea lice resistant eggs had "outstripped supply."

The group's health department also achieved "significant milestones" in the lead up to the launch of its Ectosan Cleantreata sea lice treatment.

Chief executive Malcolm Pye, said: "We performed well during the year. We have delivered revenue and profit growth, while undertaking significant strategic projects that have enhanced our position in our key markets and provide a strengthened platform for the future.

"This together with the continued progress in our pipeline and corporate structure leaves us well placed to address the significant opportunities in our markets."

Benchmark will post its fully audited results for the year ended 30 September on 24 January 2019.

As of 1145 GMT, Benchmark shares had slipped 1.16% to 59.80p.