Revenue at UK-based aquaculture biotech group Benchmark fell in the first quarter of its financial year, dragging down profit, despite a reduction in costs.
The company reported a 40 percent fall in adjusted earnings before interest, tax, depreciation and amortization (EBITDA) excluding fair value movements from biological assets in the three months to Dec. 31 to £7.5 million (€8.8 million/$9.4 million).
This was due to a 26 percent fall in revenue to £40.5 million (€47.4 million/$50.8 million), only partially offset by a reduction in operating costs.
