Benchmark Holdings PLC (AIM:BMK) has said it will keep its listing on AIM for the “foreseeable future.”
After speaking with shareholders, it plans to maintain a dual listing on Euronext Growth Oslo and AIM, the aquaculture biotech firm said in a statement.
However, a primary listing in Norway will be reviewed as part of an ongoing strategy to enhance its position and share performance.
The announcement comes as the group reported a 25% uptick in revenue to £98.9mln for the six months to 31 March 2023, compared to the same period a year earlier.
Benchmark also reported a 39% increase in adjusted underlying earnings (EBITDA) to £22.1mln.
Net debt reduced to £44.5mln, compared to £47.5mln on 30 September 2022, while it had cash of £41.9mln and liquidity of £53.9mln as of 22 May 2023.
Looking ahead, Benchmark said it is on track to deliver strong growth for the year in line with market expectations.
The group believes it has good visibility on salmon egg sales in Norway and Iceland, while it is well positioned for resilience and market share wins in the shrimp market.
“We continue to focus on achieving profitability and cash generation whilst making good progress towards our medium-term objectives; we remain on track to deliver strong growth for the year in line with market expectations,” said Benchmark CEO Trond Williksen in the results statement.