Benchmark lifts 2017 guidance to £10 Mn

News
1246

Fish fitness outfit Benchmark has posted an adjusted EBITDA of £10 million on revenues that grew by 21 percent to £138 million, or about £9 million more than management’s guidance back in September 2017.

Benchmark surpassed its own guidance on “positive trading in genetics and advanced nutrition, and lower bonus accruals, partially offset by forex movements, animal health and lumpfish sales,” the company said Tuesday. Its genetics division grew on strong sales growth of 49 percent powered by “demand for salmon products with sales in salmon eggs up on prior year in every major market.”

The announcement was guidance ahead of full year results due out in January on the full-year that ended for the company on 30 September 2017.

The 952 staff of the Company work internationally at its R&D facilities, commercial farms, laboratories, manufacturing sites, production facilities and offices in 27 countries.