Biotech firm outperforms expectations after strong final quarter

Salmon specialist Benchmark Holdings expects profits to be up to 10% ahead of market forecasts as its momentum gathered pace in the final quarter of the year.

The Sheffield-based biotech company supports the sustainability of fish markets and has around 50% of the genetics market for salmon. It also operates in the shrimp, tilapia and sea bass industries.

Trond Williksen, CEO, Benchmark Holdings

Benchmark’s chief executive Trond Williksen said: “We are pleased by the strong end to the year, which is a continuation of the consistent performance in the business over the last eight quarters.

“Looking ahead, we have had a good start to FY23 and the outlook for the business remains positive.”

It expects it will report adjusted EBITDA of £30m-£31m, ahead of consensus market expectations of £27.7m.

Benchmark said all three business areas – genetics, advanced nutrition, and health – had delivered better than expected trading in the final quarter.