Benchmark Holdings PLC (AIM:BMK) reported 36% revenue and 61% earnings growth for the first quarter of its financial year and outlined an “encouraging” outlook for the full year.
Cash inflow from operating activities jumped to £8.1mln in the three months to end-December 2022, from £1.1mln a year earlier, the aquaculture biotechnology company said.
A net loss of £0.7mln was well down on the £5.1mln loss a year ago, while underlying earnings (EBITDA) rose to £12.1mln on stronger revenue of £54.5mln, which was up 29% at constant exchange rates. Revenue growth last year was 27% at the top line and 21% excluding currency swings.
Advanced Nutrition, which was the largest business last year, grew revenues 19%, while Genetics grew 41% and Health 80%.
A jump in earnings at Health, from £0.5mln to £4.1mln was highlighted, “demonstrating the potential of this business area to deliver good profitability”, while overall group adjusted EBITDA margin rose to 22% from 19%.
Progress was reported in the process to achieve a listing on the Oslo Børs, with shareholder consultation on whether to maintain an AIM listing.
Continued positive trading was reported into the second quarter.