Benchmark Holdings PLC
LSE:BMK
Benchmark Holdings PLC
Benchmark Holdings Plc engages in the provision of applied biotechnology, sustainability research, and other related services to aquaculture, agriculture, and food sector. The company is headquartered in Sheffield, South Yorkshire and currently employs 796 full-time employees. The company went IPO on 2013-12-18. The Company’s segments include Genetics, Advanced Nutrition and Health. The Genetics segment is salmon breeding technology combined with state-of-the-art production facilities to provide a range of genetic merit ova. Advanced Nutrition segment manufactures and provides nutrition and health products to the global aquaculture industry. The Health segment is focused on providing health products to the global aquaculture market. The firm has a portfolio of products and solutions, including salmon eggs with specialist genetic traits, shrimp broodstock, tilapia fry, technology enhanced live feed (Artemia), specialist diets, probiotics and sea lice treatments.
Benchmark Holdings Plc engages in the provision of applied biotechnology, sustainability research, and other related services to aquaculture, agriculture, and food sector. The company is headquartered in Sheffield, South Yorkshire and currently employs 796 full-time employees. The company went IPO on 2013-12-18. The Company’s segments include Genetics, Advanced Nutrition and Health. The Genetics segment is salmon breeding technology combined with state-of-the-art production facilities to provide a range of genetic merit ova. Advanced Nutrition segment manufactures and provides nutrition and health products to the global aquaculture industry. The Health segment is focused on providing health products to the global aquaculture market. The firm has a portfolio of products and solutions, including salmon eggs with specialist genetic traits, shrimp broodstock, tilapia fry, technology enhanced live feed (Artemia), specialist diets, probiotics and sea lice treatments.
Genetics Sale: Benchmark is nearing the closing of its Genetics business sale to Novo Holdings, with regulatory approvals secured and completion expected before the end of Q2.
Streamlining Ahead: Post-sale, the company will streamline operations and rightsize costs, with full cost effects expected in financial year '26.
Soft Q1 Performance: Q1 was weak for Advanced Nutrition due to challenging shrimp markets and unfavorable product mix, but margins and sales improved in December and post-period.
Health Segment Profitable: The Health business, though smaller after restructuring, is now profitable and cash positive, mainly driven by sales of Salmosan and Purisan.
Return to Normalized Margins: Management expects Advanced Nutrition's margins and earnings to normalize as product mix improves and higher-quality Artemia inventory comes online.
Cost Cuts Visible: Group operating costs fell 15% year-over-year, and further reductions are planned after the Genetics deal closes.
Debt Repayment Planned: Proceeds from the Genetics sale will be used to repay debt, leaving a stable balance sheet and potential for returning capital to shareholders.
