BMK is seeing the rewards from its focus on aquaculture and a tighter cost base; continuing operations delivered Q1 2021 revenue growth of 18% to £29m, vs Q1 2020. When coupled with cost containment this provided an impressive 7.5x increase in EBITDA. This places BMK in a strong position to execute the next phase of the strategic drive to profitability through product launches and growth initiatives. Visibility is improving in Advanced Nutrition, along with early signs of recovery in some shrimp markets, solid performance in Genetics and a reduced loss in the newly restructured Health division. BMK’s prospects are improving along with momentum from new product launches. We upgrade our FY2021-23 forecasts leading to a net profit of £15.4m in FY 2023.
03 Mar 2021
Well set ahead of key product launches
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Well set ahead of key product launches
Benchmark Holdings Plc (BMK:LON) | 43.2 0.1 0.6% | Mkt Cap: 319.9m
- Published:
03 Mar 2021 -
Author:
Emma Ulker | Hannah Crowe -
Pages:
9
BMK is seeing the rewards from its focus on aquaculture and a tighter cost base; continuing operations delivered Q1 2021 revenue growth of 18% to £29m, vs Q1 2020. When coupled with cost containment this provided an impressive 7.5x increase in EBITDA. This places BMK in a strong position to execute the next phase of the strategic drive to profitability through product launches and growth initiatives. Visibility is improving in Advanced Nutrition, along with early signs of recovery in some shrimp markets, solid performance in Genetics and a reduced loss in the newly restructured Health division. BMK’s prospects are improving along with momentum from new product launches. We upgrade our FY2021-23 forecasts leading to a net profit of £15.4m in FY 2023.