Benchmark (BMK) shares fell by as much as a third after the fish farming specialist revealed that challenging conditions in the global shrimp and Mediterranean seabass and bream markets could weigh on revenue and profits this year.
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Those tough trading conditions impacted sales volumes for the advanced nutrition business during the third quarter, while pre-licence animal health products also made a reduced contribution due to fewer successful trials and trial delays. Management said its expectations for revenue and profit mix had changed - commercial licensing deals for its non-core animal vaccines could offset weakness elsewhere if completed this year.
