Benchmark losses widen YTD
Benchmark Holdings
43.25p
10:04 18/04/24
Veterinary services company Benchmark Holdings said on Friday that pre-tax losses had widened so far in 2020 as revenues slipped amid the Covid-19 pandemic.
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Benchmark said year-to-date revenues were £81.6m, down from the £90.1m recorded in the first nine months of the prior year, while pre-tax losses from continuing operations widened to £27.4m from £18.2m.
As far as the third quarter was concerned, the AIM-listed firm posted revenues from continuing operations of £24.5m just ahead of the £22.8m reported in the same period a year ago, while statutory losses before tax from continuing operations narrowed to £8.5m from £12.0m.
Benchmark also highlighted progress made on its disposals programme, with £44.0m raised so far this year after having made five divestments - including the July sale of its vaccine manufacturing facility for £12.0m.
Chief executive Trond Williksen said: "While the shrimp market continues to experience challenges as a result of Covid-19 the salmon market which underpins our genetics and health businesses remains resilient and overall, we expect to deliver full year results in line with expectations."
As of 1020 BST, Benchmark shares were down 1.52% at 45.30p.