Benchmark increases revenues across all business areas
Thursday, August 26, 2021
Benchmark group revenues from continuing operations for 2021 Q3 were 17% ahead of the prior year reflecting good performance across all business areas.
Advanced Nutrition revenues were 15% above the prior year reflecting growth across all product lines and continuing its good performance. The gradual reopening of the hospitality sector created a positive outlook for the group’s end markets. “Conditions in the salmon industry are positive with a recovery in prices after a drop related to COVID-19 and demand growth continues to exceed global supply,” the company reported. “The shrimp market is recovering with potential to bounce back to pre-COVID-19 levels despite continued hardships due to the pandemic in certain markets,” the company said. “The seabass and seabream market have substantially recovered.”
By product, Artemia revenues were up 21%, Diets were up 27% and Health was up 56% in the quarter. By region, Asia performed strongly while the Americas remain challenging partly because of the ongoing COVID-19 pandemic and logistical difficulties, the group reported.
“We are very pleased with the results and progress in Q3 2021 and the subsequent period. Our three business areas performed strongly, and we achieved a major strategic milestone with the successful commercial launch of Ectosan® Vet and CleanTreat®. We now have the basis to have three profitable business areas moving the group closer to overall profitability,” said Trond Williksen, CEO. “There is good momentum in the business following the streamlining exercise conducted in 2020 and the adoption of a new commercial focus. Our end markets are gradually recovering from the impact of COVID-19, creating a positive environment for our business. All this provides confidence in our ability to deliver full-year results in line with market expectations as well as progress in future years.”
Photo caption: Trond Williksen, Benchmark Chief Executive Officer.
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