Aquaculture biotech company Benchmark posted lower revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) in its latest quarterly report due in part to a softness in the shrimp market and an increase in third-party production costs.
The company reported revenue of GBP 34.3 million (€39 million/$43 million) and an adjusted EBITDA of GBP 3.6 million (€4.2 million/$4.5 million), drops of 6 percent and 29 percent, respectively, compared with the same period the year prior.
"Our quarterly trading reflects the anticipated low season for our health solutions in the salmon industry, as well as the continuing adverse market conditions in the global shrimp market," Benchmark Genetics CEO Trond Williksen said.
