Venture Life Group PLC Trading Statement (0581A)
31 Gennaio 2022 - 7:59AM
UK Regulatory
TIDMVLG
RNS Number : 0581A
Venture Life Group PLC
31 January 2022
31(st) January 2022
VENTURE LIFE GROUP PLC
("Venture Life" "VLG" or the "Group")
Full year trading and commercial update
Venture Life (AIM: VLG), a leader in developing, manufacturing
and commercialising products for the self-care market, is pleased
to provide the following trading and commercial update for the year
ended 31 December 2021 ("FY21"). The Company expects to publish its
results for FY21 on 24 March 2022.
Highlights
-- Revenue of GBP32.6 million for the FY21(2020: GBP30.1 million), up 8% on the prior year;
-- Revenue in the second half of the year was GBP18.7 million,
an increase of 35% over the revenues in the first half of the year
(GBP13.9 million);
-- Momentum building in the business post acquisitions
demonstrated by Q4 revenue 59% above that in Q3; and
-- Adjusted EBITDA in line with market expectations;
-- Net debt of GBP3.2m pre-IFRS16 (GBP7.3m IFRS16) reflecting a
phasing effect on working capital as a result of higher receivables
following strong Q4 revenue.
The Board is pleased to report that the momentum seen in the
second half of the 2021 has continued into 2022 and that the order
book for the Group is significantly ahead of the same time last
year, underpinning our confidence in the year ahead.
As previously announced earlier this month the Group appointed a
new partner, Samarkand Global plc, for its oral care products in
China and shipments have already commenced to this partner.
We are also pleased to report that a leading UK health and
beauty retailer has confirmed they will launch our in-house
developed product for rosacea in the UK and Ireland later in H1
2022 with the product being marketed under their own brand. This
marks the first product launch under this retailer's own brand and
paves the way for future collaboration. Furthermore, another key UK
health and beauty retailer will launch our Wart & Verruca Pen
and Women's Intimate Gel in H2 2022 under their own brand; finally,
other new agreements have been recently completed for other
products in other territories.
Following the successful integration of BBI Healthcare and
Helsinn acquisitions, one of these new agreements has been signed
for Pomi-T in Germany, which marks the start of the expansion plan
of this product into key markets around the world, in another of
the 5 major EU markets.
Jerry Randall, CEO of Venture Life, commented, '2021 was a
difficult year for the Group given the significant headwinds
experienced, and I am pleased with the revenues delivered. As with
many businesses supply chain and logistics continue to be an issue
but we are managing these challenges to meet the needs of our
suppliers, our customers and ourselves. The partnership with our
new partner for China has started well, and we look forward to a
long and successful relationship with them. The acquisitions we
made in 2021 are now fully integrated and have performed extremely
well, contributing significantly to our strong growth in revenue
and profitability in the second half. We have started 2022 with an
order book significantly ahead of the same time last year, giving
us a good level of confidence for the year ahead. I would like to
acknowledge the efforts of the whole team at Venture Life in
delivering the second half revenues in extremely challenging supply
chain circumstances, and I give my thanks to each and every one of
them'.
For further information, please contact:
Venture Life Group PLC +44 (0) 1344 578004
Jerry Randall, Chief Executive Officer
Daniel Wells, Chief Financial Officer
+44 (0) 20 7397
Cenkos Securities plc (Nomad and Joint Broker) 8900
Michael Johnson/Russell Kerr (Sales)
Stephen Keys/Camilla Hume (Corporate Finance)
+44 (0) 20 7496
Singer Capital markets (Joint Broker) 3000
Jonathan Dighe (Sales)
Shaun Dobson/Alaina Wong (Corporate Finance)
About Venture Life ( www.venture-life.com )
Venture Life is an international consumer self-care company
focused on developing, manufacturing and commercialising products
for the global self-care market. With operations in the UK, Italy,
The Netherlands and Sweden, the Group's product portfolio includes
some key products such as the UltraDEX and Dentyl oral care product
ranges, the Balance Active range in the area of women's intimate
healthcare, the Lift and Glucogel product ranges for hypoglycaemia,
products for fungal infections and proctology, and dermo-cosmetics
for addressing the signs of ageing. Its products are sold in over
90 countries worldwide.
The products, which are typically recommended by pharmacists or
healthcare practitioners, are available primarily through
pharmacies and grocery multiples. In the UK and The Netherlands
these are supplied direct by the company to retailers, elsewhere
they are supplied by the Group's international distribution
partners.
Through its two Development & Manufacturing operations in
Italy and Sweden, the Group also provides development and
manufacturing services to companies in the medical devices and
cosmetic sectors.
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END
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