After an acquisitive year, Benchmark Holdings (BMK) has the structure in place to provide access to high growth aquaculture markets across hemispheres with breadth and critical mass to provide synergies across its Nutrition, Health, Genetics platforms. With the INVE integration well underway, BMK returns its focus to organic growth, away from the distinction between ‘trading’ and ‘investing’ activities. This includes the potential of its in-house animal/aquaculture development pipeline with addressable markets of over £780m. With our forecast 35% sales growth to £147m in FY17, and 13% to £165.9m in FY18, BMK is set to benefit from a marked operational gearing over the forecast period; we see a c 180% rise in adjusted EBITDA (defined below) from £9.2m in FY16 to £25.6m in FY19.
10 Feb 2017
Reaping the ‘Fruits de Mer’
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Reaping the ‘Fruits de Mer’
Benchmark Holdings Plc (BMK:LON) | 44.4 -0.7 (-3.4%) | Mkt Cap: 328.7m
- Published:
10 Feb 2017 -
Author:
Emma Ulker -
Pages:
9
After an acquisitive year, Benchmark Holdings (BMK) has the structure in place to provide access to high growth aquaculture markets across hemispheres with breadth and critical mass to provide synergies across its Nutrition, Health, Genetics platforms. With the INVE integration well underway, BMK returns its focus to organic growth, away from the distinction between ‘trading’ and ‘investing’ activities. This includes the potential of its in-house animal/aquaculture development pipeline with addressable markets of over £780m. With our forecast 35% sales growth to £147m in FY17, and 13% to £165.9m in FY18, BMK is set to benefit from a marked operational gearing over the forecast period; we see a c 180% rise in adjusted EBITDA (defined below) from £9.2m in FY16 to £25.6m in FY19.