Benchmark Holdings PLC Trading Update (2016Q)
08 September 2017 - 4:00PM
UK Regulatory
TIDMBMK
RNS Number : 2016Q
Benchmark Holdings PLC
08 September 2017
RNS
Information within this announcement is deemed by the Company to
constitute inside information under the Market Abuse Regulations
(EU) No. 596/2014.
Benchmark Holdings plc
("Benchmark" or the "Company")
Trading Update
Benchmark, the aquaculture biotechnology and food chain
sustainability business, issues the following trading update for
the year ending 30 September 2017.
Overall performance across the Group has been good, with strong
growth in sales in the Breeding and Genetics Division, and improved
market conditions for the Advanced Animal Nutrition Division in the
second half.
The Animal Health Division continues to manage a valuable
portfolio of products in development, and the board remains
confident of delivering the Company's medium and long term strategy
of an increasingly diversified portfolio of both products and
services. The Group is approaching the launch of commercial field
trials of its innovative new sea lice treatment, and is closely
engaged with major salmon producers, with the bulk of the equipment
and licences for the trials now in place. Management are confident
that commercial field trials will start before the end of December
2017, although the exact timing of these trials remains unclear and
they are unlikely to commence before the end of September.
Consequently, contributions attributable to this new product are
unlikely to be recognised in FY17.
As a result, the Company is providing guidance that it expects
Group revenues to be in line with market expectations, and adjusted
EBITDA to be in the range GBP8.7m to GBP9.3m, for the full
year.
-ENDS-
Benchmark Holdings plc Tel: 020 7920 3150
Malcolm Pye, CEO
Rachel Aninakwah, Communications
Numis Tel: 020 7260 1000
Michael Meade / Freddie Barnfield
(NOMAD)
James Black (Corporate Broking)
Tavistock Tel: 020 7920 3150
Niall Walsh / Simon Hudson
Notes to Editors:
Benchmark challenges the status quo in aquaculture, agriculture
and animal healthcare.
Since 2000, Benchmark has consistently worked to build a
platform to serve its customers, helping farmers to take control of
their biological environment through the combination of genetics,
nutrition, health and knowledge services. Through its in-depth
knowledge of animal biology Benchmark is able to tackle the key
issues in the aquaculture, livestock and companion animal
sectors.
The Company has proven distribution capabilities in high growth
markets and operates internationally with R&D facilities,
commercial farms, diagnostic laboratories, manufacturing sites,
production facilities and commercial offices across 27 countries in
five continents. As at 30 June 2017, Benchmark employed 951
people.
For further information on Benchmark please visit
www.benchmarkplc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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