- Operating losses at Benchmark, the aquaculture biotechnology and food chain sustainability business, narrowed to £6.7m in the six months to the end of March - down from £15.2m last time.

Revenues rose to £69.2m from £48.0m and adjusted EBITDA increased to £3.3m from £3.0m.

Chairman Alex Hambro said: "The platform Benchmark has built over the last three years is delivering products with significant commercial potential, and the management team has displayed clear focus in its prioritisation of 2-3 key products which we expect to launch by the end of 2017.

"The company's foresight and dynamic development of the new product pipeline ensures that, as predicted disease pressures grow in certain species (such as salmon), pipeline products which have already been in development for a number of years are introduced to address those pressures.

"Benchmark's diversification strategy has also proved prudent, with adjusted EBITDA up 10% despite headwinds in business segments which had traditionally contributed significantly.

"There is a genuine feeling of excitement around those products which are near launch, and I look forward to updating shareholders on further progress at the preliminary results."

Story provided by