Transformational first quarter at Benchmark

Aquaculture biotechnology business, Benchmark, today hailed a ‘stepping stone’ first quarter as it nears completion on the sale of its Genetics business.

The Sheffield-based company, which is streamlining its operations, revealed a 30 per cent drop in revenue to £17.7m from continuing operations in its Q1 FY25 results. Adjusted EBITDA moved into the red with losses of £200,000 compared to a profit of £3.5m last year

Trond Williksen, CEO, said the first quarter of 2025 has been a stepping-stone quarter for the business, representing a period of transition for Benchmark ahead of completion of the Genetics disposal and streamlining of the continuing business.

He added: “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.”