Announcement • Aug 19
Benchmark Holdings Announces Cancellation of Ordinary Shares Admission to Trading on AIM and Euronext Growth Oslo Benchmark Holdings plc announced that, following applications by the Company, the admissions of its Ordinary Shares to trading on (i) AIM, a market operated by the London Stock Exchange, and (ii) Euronext Growth Oslo have now been cancelled (the "Cancellations"). The cancellation of the admission to trading on AIM of the Company's Ordinary Shares became effective at 7.00 a.m. (UK time), and on Euronext Growth Oslo at 8.00 a.m. (CEST), 18 August 2025. Announcement • Aug 08
Benchmark Holdings plc Provides Update on Euronext Oslo Børs Approval of the Cancellation of the Trading of Shares from Euronext Growth Oslo and the Cancellation of Trading of the Company's Shares on AIM Further to the approval by shareholders of the resolution in respect of the cancellation of the admission to trading of the Company's shares from Euronext Growth Oslo and AIM at the general meeting of Benchmark held on 18 June 2025 and satisfaction of other conditions (including the closing of the Tender Offer), Benchmark requested Euronext Oslo Børs to delist its shares from trading and official listing on Euronext Growth Oslo on 19 June 2025. Euronext Oslo Børs has approved the application to delist Benchmark's shares from Euronext Growth Oslo. Following the approval from Euronext Oslo Børs, the timeline for the Cancellations is now expected to be as follows: 8 August 2025: Approval of the delisting application by Euronext Oslo Børs. 15 August 2025: Last day of trading of the shares on Euronext Growth Oslo and on AIM. 18 August 2025: The cancellations of the admission to trading of the Company's shares on AIM and on Euronext Growth Oslo becomes effective at 7.00 a.m. UK time in respect of AIM and 8.00 a.m. CET in respect of Euronext Growth Oslo. Announcement • May 23
Benchmark Holdings Announces Intention to Cancel Admission to Trading on AIM and Euronext Growth Oslo Benchmark Holdings plc (AIM:BMK) announced its proposals for the return of the vast majority of the net proceeds from the completion of its disposal of the Genetics Business to Shareholders, the proposed cancellation of the admission to trading of its Ordinary Shares on AIM, a market operated by the London Stock Exchange, and Euronext Growth Oslo (the "De-Listings"), and the proposed re-registration of the Company as a private limited company, together the "Proposals". Following due assessment of various options by the Board and consultation with the Company's major shareholders, the Company now intends to return the vast majority of the net proceeds from the disposal of the Genetics Business to Shareholders which amount to £95 million through a combination of the Tender Offer and a planned special dividend following implementation of the De-Listings, whilst retaining an appropriate level of working and development/growth capital for the Group's residual operating businesses and implementation of management's existing near to medium term business plan. Assuming that the De-Listings Resolution is approved and the Norwegian Approval is received, it is currently expected that the De-Listings will become effective in the fourth quarter of 2025. If the De-Listings Resolution to approve the De-Listings is not passed, and/or the Norwegian Approval is not received, the Company will not proceed with the Re-Registration or the Tender Offer. Further announcements will be made in due course in relation to the De-Listings in accordance with the requirements of the AIM Rules and Euronext Growth Oslo Rule Book. Expected last day of dealings in the Ordinary Shares on AIM: a date expected to be within 2 - 3 months of the date of the Norwegian Approval. Expected last day of dealings in the Ordinary Shares on Euronext Growth Oslo: a date expected to be within 2 - 3 months of the date of the Norwegian Approval. Expected cancellation of admission of the Ordinary Shares to trading on AIM: 7.00 a.m. on 1 Business Day following the last day of dealings in the Ordinary Shares on AIM. Expected effective date for the delisting of the Ordinary Shares from trading on Euronext Growth Oslo: 8.00 a.m. on (CEST time) on 1 Business Day following the last day of dealings in the Ordinary Shares on Euronext Growth Oslo. Announcement • Apr 01
Novo Holdings A/S completed the acquisition of Genetics business of Benchmark Holdings plc from Benchmark Holdings plc (AIM:BMK) for £260 million. Novo Holdings A/S entered into a binding agreement to acquire Genetics business of Benchmark Holdings plc from Benchmark Holdings plc (AIM:BMK) for £260 million on November 25, 2024. The consideration represents enterprise value of up to £260 million which will be paid Initial consideration of £230 million, additional contingent consideration of up to £30 million and representing a multiple of 17.9 Adjusted EBITDA. For the period ending June 30, 2024, Genetics business of Benchmark Holdings plc reported total revenue of £57 million and EBITDA of £14.5 million. As of June 30, 2024, Genetics business of Benchmark Holdings plc reported total common equity of £52.8 million. Completion of the Disposal is expected during the first quarter of 2025 subject to shareholder approval and receipt of customary regulatory clearances. Benchmark Holdings plc announces the appointment of Tripp Lane as Chairman with effect from December 17, 2024, following the General Meeting on 16th December to approve the sale of the Genetics business as announced on November 25, 2024. Peter George will retire from the Board on Tripp’s appointment and will ensure an orderly handover.
PJT Partners Inc. acted as financial advisor for Novo Holdings A/S. Robbie McLaren and Emily Cridland of Latham & Watkins (London) LLP acted as legal advisor for Novo Holdings A/S. Julian Oakley, Simon Elliott and Julien Baril of Evercore Partners Limited acted as financial advisor for Benchmark Holdings plc. Reinier Henneman, Hans Pronk and Benny Vossen of Coöperatieve Rabobank U.A. acted as financial advisor for Benchmark Holdings plc. Freddie Barnfield, Duncan Monteith and Sher Shah of Numis Securities Limited acted as financial advisor for Benchmark Holdings plc. Jon Earle, Karin Kirschner, Sarah Smith, Chloe Cumber, Martin MacLeod, Lisa Hodgson, Dan Cowley, Satnam Sahota and Nick Hinton of DLA Piper UK LLP acted as legal advisor to Benchmark Holdings plc.
Novo Holdings A/S completed the acquisition of Genetics business of Benchmark Holdings plc from Benchmark Holdings plc (AIM:BMK) on March 31, 2025. Reported Earnings • Mar 02
First quarter 2025 earnings: EPS and revenues miss analyst expectations First quarter 2025 results: UK£0.009 loss per share (improved from UK£0.01 loss in 1Q 2024). Revenue: UK£17.7m (down 56% from 1Q 2024). Net loss: UK£7.01m (loss narrowed 8.1% from 1Q 2024). Revenue missed analyst estimates by 26%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Food industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 18% per year whereas the company’s share price has fallen by 22% per year. Announcement • Jan 17
Benchmark Holdings plc, Annual General Meeting, Mar 11, 2025 Benchmark Holdings plc, Annual General Meeting, Mar 11, 2025. Price Target Changed • Dec 17
Price target decreased by 7.7% to UK£0.51 Down from UK£0.55, the current price target is provided by 1 analyst. New target price is 58% above last closing price of UK£0.32. Stock is down 9.3% over the past year. The company is forecast to post earnings per share of UK£0.091 next year compared to a net loss per share of UK£0.06 last year. Reported Earnings • Dec 13
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: UK£0.06 loss per share (further deteriorated from UK£0.024 loss in FY 2023). Revenue: UK£90.4m (down 47% from FY 2023). Net loss: UK£44.6m (loss widened 153% from FY 2023). Revenue missed analyst estimates by 8.3%. Earnings per share (EPS) also missed analyst estimates by 186%. Revenue is forecast to grow 32% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Food industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 16% per year and the company’s share price has also fallen by 16% per year. Announcement • Dec 12
Benchmark Holdings plc Announces Board Changes, Effective 17 December 2024 Benchmark Holdings announced the appointment of Tripp Lane as Chairman with effect from 17 December 2024, following the General Meeting on 16th December to approve the sale of the Genetics business as announced on 25 November 2024. Peter George will retire from the Board on Tripp's appointment and will ensure an orderly handover. Tripp Lane is a founding partner of Delancey Cove LLC, an advisory firm focused on transitional governance and management of both private and public companies across all stages of their life cycle. Prior to founding Delancey Cove LLC, Tripp invested in public and private debt and equity markets at BlueMountain Capital LLC in London and at Apax Partners in London and New York. Nathan 'Tripp' Lane (aged 47) has held the following directorships and/or partnerships in the past five years. Current Directorships: Cell C Limited; Delancey Cove, LLC; LB NewHoldCo LLC; LBI ehf.; Maisons du Monde SA; Mavenir Private Holdings II Ltd; Mavenir Systems Inc; National CineMedia Inc; PVA Company LLC; Quoizel LLC; Slater and Gordon UK Holdings Limited; Stonepeak Falcon Holdings Inc. Past Directorships (last five years): Card Factory Plc; Cardfactory US Holdings Inc; Cardfactory USA LLC; Intralot Inc; Matrix Holdco LLC; Novartex SAS; Retailnext Holdings Inc; Resegon Capital Partners LLP; Resegon Topco Limited; Turvo Inc; Vivarte SAS (a subsidiary of Novartex SAS). Nathan served on the board of Cengage Learning GP 1 LLC from 11 April to 23 August 2013. Cengage Learning GP I LLC, the general partner of Cengage Learning Holdings II, LP, filed for Chapter 11 reorganisation on 2 July 2013. Cengage, a global provider of educational content, technology, and services, confirmed a reorganisation plan on 14 March 2014, after settling with certain creditors. Nathan was appointed to the board of Matrix Holdco LLC, the controlling entity of Mobileum Inc., on 20 December 2023. Matrix Holdco LLC, a provider of analytics solutions for telecom operators, filed for Chapter 11 reorganisation on 23 July 2024. The company emerged from Chapter 11 on 12 September 2024, at which point Nathan resigned from the board. Price Target Changed • Nov 25
Price target increased by 7.3% to UK£0.55 Up from UK£0.51, the current price target is an average from 2 analysts. New target price is 46% above last closing price of UK£0.38. Stock is up 4.4% over the past year. The company is forecast to post a net loss per share of UK£0.019 next year compared to a net loss per share of UK£0.024 last year. Price Target Changed • Sep 03
Price target increased by 7.3% to UK£0.55 Up from UK£0.51, the current price target is an average from 2 analysts. New target price is 35% above last closing price of UK£0.41. Stock is up 11% over the past year. The company is forecast to post a net loss per share of UK£0.028 next year compared to a net loss per share of UK£0.024 last year. Reported Earnings • Aug 23
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: UK£0.013 loss per share (further deteriorated from UK£0.007 loss in 3Q 2023). Revenue: UK£30.7m (down 10% from 3Q 2023). Net loss: UK£9.91m (loss widened 92% from 3Q 2023). Revenue missed analyst estimates by 17%. Earnings per share (EPS) also missed analyst estimates. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Food industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 14% per year. Price Target Changed • May 24
Price target decreased by 7.0% to UK£0.54 Down from UK£0.58, the current price target is an average from 4 analysts. New target price is 21% above last closing price of UK£0.45. Stock is up 10% over the past year. The company is forecast to post a net loss per share of UK£0.013 next year compared to a net loss per share of UK£0.024 last year. Major Estimate Revision • May 24
Consensus EPS estimates fall by 41% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£176.9m to UK£164.0m. Losses expected to increase from UK£0.0098 per share to UK£0.014. Food industry in the United Kingdom expected to see average net income growth of 5.6% next year. Consensus price target of UK£0.54 unchanged from last update. Share price was steady at UK£0.45 over the past week. Major Estimate Revision • May 23
Consensus EPS estimates fall by 28% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£176.9m to UK£167.2m. Losses expected to increase from UK£0.0098 per share to UK£0.013. Food industry in the United Kingdom expected to see average net income growth of 5.6% next year. Consensus price target of UK£0.54 unchanged from last update. Share price rose 4.3% to UK£0.47 over the past week. Reported Earnings • Feb 16
First quarter 2024 earnings released: UK£0.01 loss per share (vs UK£0.002 loss in 1Q 2023) First quarter 2024 results: UK£0.01 loss per share (further deteriorated from UK£0.002 loss in 1Q 2023). Revenue: UK£40.5m (down 26% from 1Q 2023). Net loss: UK£7.63m (loss widened 495% from 1Q 2023). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Food industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 8% per year. Major Estimate Revision • Jan 26
Consensus EPS estimates fall by 33% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£182.8m to UK£180.3m. Losses expected to increase from UK£0.0069 per share to UK£0.0092. Food industry in the United Kingdom expected to see average net income growth of 20% next year. Consensus price target of UK£0.58 unchanged from last update. Share price rose 21% to UK£0.42 over the past week. Announcement • Dec 12
Benchmark Holdings plc Announces Directorate Change Benchmark announced that, further to its announcement on 29 November 2023, Susan Searle's tenure as a director ends 12 December 2023. Susan Searle, the Company's most tenured Board member, will conclude her service on the Board after 10 years. Susan has demonstrated exceptional performance over the past decade, playing a vital role in supporting the growth of the Company. Major Estimate Revision • Dec 08
Consensus EPS estimates upgraded to UK£0.0069 loss, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from UK£190.3m to UK£182.8m. 2024 losses expected to reduce from -UK£0.0093 to -UK£0.0069 per share. Food industry in the United Kingdom expected to see average net income growth of 16% next year. Consensus price target of UK£0.62 unchanged from last update. Share price rose 4.3% to UK£0.36 over the past week. Announcement • Dec 08
Benchmark Holdings plc, Annual General Meeting, Feb 08, 2024 Benchmark Holdings plc, Annual General Meeting, Feb 08, 2024, at 12:00 Coordinated Universal Time. Location: Travers Smith LLP, 10 Snow Hill, London, EC1A 2AL London United Kingdom Reported Earnings • Nov 30
Full year 2023 earnings: EPS and revenues miss analyst expectations Full year 2023 results: UK£0.024 loss per share (improved from UK£0.046 loss in FY 2022). Revenue: UK£169.5m (up 7.1% from FY 2022). Net loss: UK£17.6m (loss narrowed 45% from FY 2022). Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 40%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Food industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has fallen by 17% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • Nov 29
Consensus EPS estimates fall by 125% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from UK£192.0m to UK£180.5m. Losses expected to increase from UK£0.0089 per share to UK£0.02. Food industry in the United Kingdom expected to see average net income growth of 16% next year. Consensus price target of UK£0.63 unchanged from last update. Share price fell 2.9% to UK£0.35 over the past week. Announcement • Nov 29
Benchmark Holdings plc Announces Changes to its Board Benchmark Holdings plc announced the appointment of Jonathan Esfandi as Non-Executive Director. Age: 49, Mr. Esfandi is the founder and managing partner at JNE Partners LLP. Mr. Esfandi will act as shareholder representative of JNE Partners LLP, a significant shareholder of the Company, and therefore the Board has concluded that he is not an independent director. Laura Lavers, who joined the Board in November 2022, will retire from the Board as a Non-Executive Director with effect from November 29, 2023. Major Estimate Revision • Aug 31
Consensus EPS estimates fall by 30% The consensus outlook for fiscal year 2023 has been updated. 2023 expected loss increased from -UK£0.016 to -UK£0.021 per share. Revenue forecast unchanged at UK£177.0m. Food industry in the United Kingdom expected to see average net income growth of 12% next year. Consensus price target of UK£0.63 unchanged from last update. Share price rose 4.4% to UK£0.37 over the past week. Announcement • Jun 30
Benchmark Holdings plc Announces Board Changes Benchmark Holdings plc announced the appointment of Marie Danielsson as Non-Executive Director with immediate effect. Ms. Danielsson is CFO of BEWi ASA and has extensive industrial and financial experience. Kevin Quinn, who joined the Board in November 2016 will retire as Non-Executive Director from the Board on 28 September 2023, ensuring a sufficient period of transition. Major Estimate Revision • Jun 02
Consensus estimates of losses per share improve by 37% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from UK£170.8m to UK£177.6m. EPS estimate increased from -UK£0.025 per share to -UK£0.016 per share. Food industry in the United Kingdom expected to see average net income growth of 13% next year. Consensus price target broadly unchanged at UK£0.62. Share price was steady at UK£0.41 over the past week. Major Estimate Revision • May 30
Consensus EPS estimates upgraded to UK£0.015 loss The consensus outlook for fiscal year 2023 has been updated. 2023 losses forecast to reduce from -UK£0.017 to -UK£0.015 per share. Revenue forecast steady at UK£177.5m. Food industry in the United Kingdom expected to see average net income growth of 12% next year. Consensus price target of UK£0.62 unchanged from last update. Share price was steady at UK£0.41 over the past week. Reported Earnings • May 24
Second quarter 2023 earnings released: UK£0.004 loss per share (vs UK£0.005 loss in 2Q 2022) Second quarter 2023 results: UK£0.004 loss per share (improved from UK£0.005 loss in 2Q 2022). Revenue: UK£44.4m (up 13% from 2Q 2022). Net loss: UK£2.86m (loss narrowed 24% from 2Q 2022). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Food industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has only increased by 11% per year, which means it is significantly lagging earnings growth. Price Target Changed • Mar 23
Price target decreased by 8.0% to UK£0.59 Down from UK£0.64, the current price target is an average from 5 analysts. New target price is 65% above last closing price of UK£0.36. Stock is down 30% over the past year. The company is forecast to post a net loss per share of UK£0.019 next year compared to a net loss per share of UK£0.046 last year. Recent Insider Transactions • Mar 06
Independent Non-Executive Director recently bought UK£77k worth of stock On the 1st of March, Yngve Myhre bought around 200k shares on-market at roughly UK£0.38 per share. This transaction amounted to 18% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£212k more in shares than they have sold in the last 12 months. Reported Earnings • Mar 01
First quarter 2023 earnings released: UK£0.002 loss per share (vs UK£0.008 loss in 1Q 2022) First quarter 2023 results: UK£0.002 loss per share (improved from UK£0.008 loss in 1Q 2022). Revenue: UK£54.5m (up 36% from 1Q 2022). Net loss: UK£1.28m (loss narrowed 76% from 1Q 2022). Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 3.9% growth forecast for the Food industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Feb 28
Consensus EPS estimates fall by 31%, revenue upgraded The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast increased from UK£171.8m to UK£175.3m. Forecast EPS reduced from -UK£0.021 to -UK£0.027 per share. Food industry in the United Kingdom expected to see average net income growth of 3.7% next year. Consensus price target of UK£0.60 unchanged from last update. Share price rose 8.1% to UK£0.38 over the past week. Breakeven Date Change • Feb 27
Forecast to breakeven in 2025 The 4 analysts covering Benchmark Holdings expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 47% per year to 2024. The company is expected to make a profit of UK£12.4m in 2025. Average annual earnings growth of 75% is required to achieve expected profit on schedule. Board Change • Dec 20
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Non-Executive Chairman Peter George was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Dec 08
Consensus forecasts updated The consensus outlook for 2023 has been updated. 2023 revenue forecast increased from UK£171.0m to UK£174.0m. Forecast EPS reduced from -UK£0.02 to -UK£0.03 per share. Food industry in the United Kingdom expected to see average net income growth of 5.9% next year. Consensus price target of UK£0.64 unchanged from last update. Share price fell 5.7% to UK£0.38 over the past week. Announcement • Dec 02
Benchmark Holdings plc, Annual General Meeting, Dec 16, 2023 Benchmark Holdings plc, Annual General Meeting, Dec 16, 2023, at 15:00 Coordinated Universal Time. Location: Travers Smith LLP, 10 Snow Hill London, EC1A 2AL London United Kingdom Reported Earnings • Dec 01
Full year 2022 earnings: Revenues exceed analyst expectations Full year 2022 results: Revenue: UK£158.3m (up 27% from FY 2021). Net loss: UK£32.1m (loss widened 149% from FY 2021). Revenue exceeded analyst estimates by 2.9%. Revenue is forecast to grow 10.0% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Food industry in the United Kingdom. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non-Executive Chairman Peter George was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Oct 13
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses forecast to reduce from -UK£0.03 to -UK£0.02 per share. Revenue forecast steady at UK£152.2m. Food industry in the United Kingdom expected to see average net income growth of 12% next year. Consensus price target broadly unchanged at UK£0.66. Share price rose 9,025% to UK£36.00 over the past week. Price Target Changed • Oct 12
Price target decreased to UK£0.66 Down from UK£0.70, the current price target is an average from 4 analysts. New target price is 82% above last closing price of UK£0.36. Stock is down 36% over the past year. The company is forecast to post a net loss per share of UK£0.027 next year compared to a net loss per share of UK£0.019 last year. Breakeven Date Change • Oct 01
Forecast to breakeven in 2025 The 5 analysts covering Benchmark Holdings expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of UK£17.0m in 2025. Average annual earnings growth of 68% is required to achieve expected profit on schedule. Reported Earnings • Aug 25
Second quarter 2022 earnings released: UK£0.005 loss per share (vs UK£0.005 loss in 2Q 2021) Second quarter 2022 results: UK£0.005 loss per share (vs UK£0.005 loss in 2Q 2021). Revenue: UK£39.2m (up 29% from 2Q 2021). Net loss: UK£3.78m (loss widened 22% from 2Q 2021). Over the next year, revenue is forecast to grow 14%, compared to a 9.8% growth forecast for the Food industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Price Target Changed • Aug 25
Price target decreased to UK£0.67 Down from UK£0.75, the current price target is an average from 5 analysts. New target price is 62% above last closing price of UK£0.41. Stock is down 31% over the past year. The company is forecast to post a net loss per share of UK£0.022 next year compared to a net loss per share of UK£0.019 last year. Major Estimate Revision • Jun 10
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -UK£0.01 to -UK£0.02 per share. Revenue forecast unchanged at UK£153.4m. Food industry in the United Kingdom expected to see average net income growth of 12% next year. Consensus price target down from UK£0.75 to UK£0.70. Share price was steady at UK£0.50 over the past week. Reported Earnings • May 19
Second quarter 2022 earnings: Revenues exceed analyst expectations Second quarter 2022 results: Revenue: UK£39.2m (up 29% from 2Q 2021). Net loss: UK£3.78m (loss widened 22% from 2Q 2021). Revenue exceeded analyst estimates by 13%. Over the next year, revenue is forecast to grow 13% while the industry in the United Kingdom is not expected to grow. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Non-Executive Chairman Peter George was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Major Estimate Revision • Apr 06
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -UK£0.01 to -UK£0.01 per share. Revenue forecast unchanged at UK£153.4m. Food industry in the United Kingdom expected to see average net income growth of 3.8% next year. Consensus price target of UK£0.76 unchanged from last update. Share price fell 3.8% to UK£0.50 over the past week. Major Estimate Revision • Mar 16
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 losses forecast to reduce from -UK£0.02 to -UK£0.01 per share. Revenue forecast steady at UK£152.1m. Food industry in the United Kingdom expected to see average net income growth of 5.7% next year. Consensus price target broadly unchanged at UK£0.75. Share price rose 3.8% to UK£0.55 over the past week. Major Estimate Revision • Mar 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 revenue forecast increased from UK£151.8m to UK£153.4m. Forecast EPS reduced from -UK£0.02 to -UK£0.02 per share. Food industry in the United Kingdom expected to see average net income growth of 5.7% next year. Consensus price target of UK£0.75 unchanged from last update. Share price rose 2.9% to UK£0.53 over the past week. Reported Earnings • Feb 24
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: UK£0.008 loss per share (down from UK£0.001 loss in 1Q 2021). Revenue: UK£40.0m (up 38% from 1Q 2021). Net loss: UK£5.36m (loss widened UK£4.64m from 1Q 2021). Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 16%, compared to a 5.9% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Major Estimate Revision • Feb 19
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 expected loss increased from -UK£0.01 to -UK£0.01 per share. Revenue forecast unchanged at UK£152.1m. Food industry in the United Kingdom expected to see average net income growth of 6.6% next year. Consensus price target of UK£0.75 unchanged from last update. Share price was steady at UK£0.55 over the past week. Breakeven Date Change • Dec 16
No longer forecast to breakeven The 5 analysts covering Benchmark Holdings no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of UK£2.39m in 2023. New consensus forecast suggests the company will make a loss of UK£1.68m in 2023. Major Estimate Revision • Dec 14
Consensus EPS estimates fall by 154% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from UK£158.6m to UK£152.2m. Losses expected to increase from UK£0.01 per share to UK£0.02. Food industry in the United Kingdom expected to see average net income growth of 11% next year. Consensus price target of UK£0.77 unchanged from last update. Share price fell 5.6% to UK£0.58 over the past week. Reported Earnings • Nov 30
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: UK£0.019 loss per share (up from UK£0.038 loss in FY 2020). Revenue: UK£125.1m (up 19% from FY 2020). Net loss: UK£12.9m (loss narrowed 46% from FY 2020). Revenue exceeded analyst estimates by 2.9%. Earnings per share (EPS) also surpassed analyst estimates by 21%. Earnings per share (EPS) surpassed analyst estimates by 21%. Over the next year, revenue is forecast to grow 27%, compared to a 6.5% growth forecast for the industry in the United Kingdom. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 1% per year. Reported Earnings • Aug 25
Third quarter 2021 earnings released: UK£0.004 loss per share (vs UK£0.008 loss in 3Q 2020) The company reported a solid third quarter result with reduced losses, improved revenues and improved control over expenses. Third quarter 2021 results: Revenue: UK£28.3m (up 17% from 3Q 2020). Net loss: UK£2.97m (loss narrowed 47% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 21% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Breakeven Date Change • Jul 28
No longer forecast to breakeven The 3 analysts covering Benchmark Holdings no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of UK£8.80m in 2023. New consensus forecast suggests the company will make a loss of UK£941.8k in 2023. Major Estimate Revision • Jul 09
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast fell from UK£125.1m to UK£122.2m. 2021 losses expected to reduce from -UK£0.024 to -UK£0.021 per share. Food industry in the United Kingdom expected to see average net income growth of 19% next year. Consensus price target broadly unchanged at UK£0.76. Share price fell 3.7% to UK£0.58 over the past week. Major Estimate Revision • May 25
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 losses forecast to reduce from -UK£0.025 to -UK£0.022 per share. Revenue forecast steady at UK£124.8m. Food industry in the United Kingdom expected to see average net income growth of 22% next year. Consensus price target of UK£0.75 unchanged from last update. Share price fell 3.9% to UK£0.61 over the past week. Reported Earnings • May 20
Second quarter 2021 earnings released: UK£0.005 loss per share (vs UK£0.023 loss in 2Q 2020) The company reported a decent second quarter result with reduced losses and improved control over expenses, although revenues were weaker. Second quarter 2021 results: Revenue: UK£30.4m (down 4.9% from 2Q 2020). Net loss: UK£3.10m (loss narrowed 78% from 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 46% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Recent Insider Transactions • Apr 02
Independent Non-Executive Director recently bought UK£118k worth of stock On the 30th of March, Yngve Myhre bought around 200k shares on-market at roughly UK£0.59 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought UK£537k more in shares than they have sold in the last 12 months. Price Target Changed • Mar 03
Price target raised to UK£0.71 Up from UK£0.66, the current price target is an average from 5 analysts. The new target price is 23% above the current share price of UK£0.57. As of last close, the stock is up 69% over the past year. Major Estimate Revision • Mar 01
Analysts update estimates The company's losses in 2021 are expected to worsen with analysts lowering their consensus EPS forecasts from -UK£0.022 to -UK£0.03. Revenue estimate was approximately flat at UK£123.1m. The Food industry in the United Kingdom is expected to see an average net income growth of 9.1% next year. The consensus price target of UK£0.67 was unchanged from the last update. Share price stayed mostly flat at UK£0.57 over the past week. Reported Earnings • Feb 23
First quarter 2021 earnings released: UK£0.001 loss per share (vs UK£0.01 loss in 1Q 2020) The company reported a solid first quarter result with reduced losses, improved revenues and improved control over expenses. First quarter 2021 results: Revenue: UK£29.0m (up 16% from 1Q 2020). Net loss: UK£717.0k (loss narrowed 87% from 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 71% per year but the company’s share price has remained flat, which means it is well ahead of earnings.