Bench­mark ‘trans­formed’ by ac­qui­si­tion

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THE Bench­mark Group said 2016 was a ‘trans­for­ma­tive’ year, which saw it en­com­pass ge­net­ics, egg pro­duc­tion, spe­cial­ist nutri­tion and the pro­vi­sion of vet­eri­nary ser­vices and health prod­ucts for the global aqua­cul­ture sec­tor.

Rev­enue for the year was £109.4 mil­lion, com­pared to £44.2 mil­lion in 2015, but the op­er­at­ing loss was £20.5 mil­lion (£11.6 mil­lion) fol­low­ing the ac­qui­si­tion in De­cem­ber 2015 of Bel­gian fish nutri­tion firm INVE Aqua­cul­ture for around £230 mil­lion.

This cre­ated a new Ad­vanced An­i­mal Nutri­tion di­vi­sion and Bench­mark now has a sig­nif­i­cant mar­ket pres­ence in the three key aqua­cul­ture species – salmon, ti­lapia and shrimp.

INVE re­ported a turnover of £55 mil­lion, which Bench­mark said was ‘in line with ex­pec­ta­tions’.

The com­pany plans to con­tinue ‘mak­ing value en­hanc­ing bolt-on ac­qui­si­tions, and in­vest­ing in some im­por­tant strate­gic joint ven­tures to de­liver sig­nif­i­cant syn­er­gies and sales growth’.

‘I am pleased to an­nounce that the group has de­liv­ered a fi­nan­cial per­for­mance in line with the board’s ex­pec­ta­tions, in a trans­for­ma­tional year,’ said Mal­colm Pye, Bench­mark CEO.

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