EBITDA for FY21 is expected to be significantly ahead of the current market consensus which is £15.9m.
Benchmark, the aquaculture biotechnology business, has issued an update ahead of its full year results for the year ended 30 September, which will be announced on 29th November.
The results for the financial year are expected to be significantly ahead of market expectations.
Following positive financial results in Q3, the company has delivered a stronger than expected trading performance across its three business areas.
In a statement issued by the company, this is credited to, “the group’s continued strong commercial focus, disciplined cost control and further recovery in the company’s end markets.”
According to the release, the company’s Advanced Nutrition business area has continued to deliver excellent year on year growth while the Genetics business area delivered a strong end to the year, and in the Health business area, the company achieved its first revenues from its sea lice treatment, Ectosan Vet and CleanTreat.
As a result, whilst still subject to audit, the Group’s Adjusted EBITDA for FY21 is expected to be significantly ahead of the current market consensus which is £15.9m.
Benchmark CEO Trond Williksen said, “We are pleased by the continuing momentum in the business, which reflects the benefits of our clear commercial focus, having streamlined the organisation, our continued disciplined approach to cost control and good demand for our products in our recovering markets.”
“As a focused aquaculture biotechnology company with three strong business areas, we are well positioned to capture market opportunities and deliver profitable growth.”