StockMarketWire.com - Aquaculture health business Benchmark swung to a profit in the year through March compared to the previous year as revenue grew 9%.

For the six months ended 31 March 2018, adjusted profit before tax was £4.4m compared with a loss of £0.7m the same period a year ago, revenue rose 9% to £75.7m and adjusted earnings (EBITDA) rose 91% to £6.3m.

The company's return to profit was supported by revenue growth in the higher margin nutrition and genetics divisions, which somewhat offset the £2.1m slump in the animal division.

Reported profit was £3.6m for the period compared with a loss of £8.2m the same period a year ago.

Net debt jumped to £41.3m amid a £15.1m ramp up in capital expenditure including an £8.6m investment in the Salten facility and investment associated with the field trials of the new sea lice treatment.

Benchmark said the group's main markets were in a positive macro environment, adding that group was on track to deliver on expectations for the full year.

'We also expect to benefit from the recently announced, strategically important Chilean JV,' said Malcolm Pye, CEO of Benchmark.

'Overall, we remain on track to achieve our expectations for the current year, and are confident of Benchmark's capacity to generate attractive returns in the years to come.'


At 10:00am: [LON:BMK] Benchmark Holdings Plc share price was +0.3p at 61.5p



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