The aquaculture health, genetics and advanced nutrition business, and owner of Stofnfiskur and SalmoBreed, increased both sales and EBITDA in the first six months of the year.
However, the bottom line is still negative. The first half of 2018 gave a net loss of GBP 5.6 million.
“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”, said Malcolm Pye, Benchmark’s CEO.
The EBITDA growth was driven by revenue growth in higher margin nutrition and genetics products, according to a press release from Benchmark Holdings.
“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”, Pye added.
“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.”
Benchmark Holdings is listed at the London Stock Exchange.
