StockMarketWire.com - Healthcare company Benchmark said it had delivered a 'good performance' in the first half of the year as earnings increased by quarter. The company also said it was looking to refinance its existing $90m credit facility.

Benchmark mandated DNB Markets to arrange a series of fixed income investor meetings in connection with the refinancing of its existing $90m credit facility, the company said.

'A NOK 850m (USD $95m equivalent), 4-year senior secured floating rate listed bond issue, may follow subject to inter alia market conditions,' the company said.

'It is envisaged that the refinancing will also include a $15m RCF to be provided by DNB Bank ASA. The bond is being underwritten by DNB Bank ASA.'

The company delivered a 25% increase in adjusted earnings (EBITDA) in the first half, with revenues growing 3.4% to £78.3m.

Revenues were driven by growth in genetics, animal health, and knowledge services, which more than offset lower revenues in advanced nutrition as a result of weakness in the global shrimp market, the company said.

Looking ahead, the company said it was making 'significant' progress in the implementation of its programme of structural efficiencies, and overall, it expected the group to deliver broadly in line with market expectations for the full year.




At 8:57am: [LON:BMK] Benchmark Holdings Plc share price was -0.5p at 42.5p



Story provided by StockMarketWire.com