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Benchmark Holdings PLC on Friday said it was trading in line with management’s expectations as it narrowed its first-quarter loss in the new financial year. The Sheffield, England-based aquaculture biotechnology company said its pretax loss for continuing operations in the three months ended December 31 narrowed to £7.1 million from a restated £9.1 million the prior year. The firm restated its first-quarter figures for 2024 as it agreed to sell its genetics business in financial 2024. Revenue for the AIM-listed firm fell 30% to £17.7 million from a restated £25.3 million, owing to weaker performances from its Advanced Nutrition and Health segments. Advanced Nutrition revenue fell 16% to £16.1 million from a restated £19.3 million, with Benchmark attributing the weakness to ‘continuing soft shrimp markets’ as well as a change in product mix. Health revenue dropped by 73% to £1.6 million from a restated £6.1 million. Benchmark said this reflected the restructured health business which is currently focused on Salmosan Vet, its treatment for sea lice. It shares were down 7.4% at 25.00 pence on Friday afternoon in London. Benchmark said it is trading in line with management’s expectations for the full-year, with this sentiment underpinned by ‘improving performance in Advanced Nutrition since the latter part of Q1 FY25.’ Chief Executive Trond Williksen commented: ‘Q1 FY25 has been a stepping-stone quarter for us representing a period of transition for Benchmark ahead of completion of the Genetics disposal and streamlining of the continuing business. Our reported performance reflects ongoing weakness in the global shrimp markets for Advanced Nutrition coupled with a temporary change in product mix and a solid performance in Health. ‘Looking forward we expect an improvement in trading conditions and margins, and we have two well positioned businesses capable of delivering attractive shareholder returns.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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