Benchmark Holdings PLC (AIM:BMK), the aquaculture specialist, has raised £20.7mln through a placing to support the roll-out of its clean water and sea lice treatments CleanTreat and Ectosan.
Shares were issued at 62p with the directors putting up £0.2mln.
The funding followed a pick-up in trading following the launch of Clean Treat and Ectosan after regulatory approval and the start of a recovery in the shrimp market.
Final quarter revenues in the year to end September jumped by 48% to £37.3mln, with sales for the year overall up 18% to £125mln.
Annual underlying profits rose by 34% to £19.4mln helped by the shrimp business while the genetics arm increased revenues by 15%.
Salmon and sea bass and sea bream demand were also recovering said the Aim-listed group.
Losses over the year fell to £11.6mln from £31.9mln with the group posting a small fourth-quarter operating profit.
Trond Williksen, chief executive, said: "2021 was a very successful year for Benchmark with much accomplished financially, operationally and strategically.
“The group delivered a strong financial performance across its three business areas reflecting our new commercial focus and supported by improving conditions, particularly in our important shrimp market which had been hardest hit by the pandemic.
"There is good momentum in our business helped by positive conditions in our markets contributing to a good start to the new financial year across all business areas", he added.