Venture Life Group PLC Half Year Trading Update (4082T)
20 Luglio 2020 - 8:00AM
UK Regulatory
TIDMVLG
RNS Number : 4082T
Venture Life Group PLC
20 July 2020
20 July 2020
Venture Life Group plc
("Venture Life" the "Company" or the "Group")
Half Year trading update
Venture Life Group plc (AIM: VLG), a leader in developing,
manufacturing and commercialising products for the international
self-care market, provides an update on its performance for the six
months to 30 June 2020, after a period of strong trading.
Financial Highlights:
-- Revenues increased 80% to GBP16.9 million (H1 2019: GBP9.4 million)
-- 65% from organic growth and 15% from acquired growth
-- Venture Life brands revenue represented 53% of revenues (H1 2019: 30%)
-- PharmaSource revenues increased +43% compared to H1 2019
Commercial Highlights:
-- 8 new partnering agreements completed
-- 15-year exclusive agreement signed with Chinese partner -
total agreement worth a minimum of EUR168 million
-- 11 long term development and manufacturing agreements completed
-- 8 new products developed for newly created DISINPLUS Ô hand
sanitiser brand, with ASDA ordering 1 million units in H1
-- Appointment as second manufacturer of Alliance Pharmaceuticals Kelo-Cote products
Post-Period End:
-- New long term exclusive distribution agreement signed in Spain for Procto-eze Plus
-- New long term exclusive distribution agreement signed in
Israel on the Nail Fungal Pen, Wart Pen and Shoe Spray
Jerry Randall, CEO of Venture Life said , "There has been step
change in the business in this first half of the year, with
revenues increasing by 80% to GBP16.9 million, of which 65% is from
organic growth alone. This is a remarkable achievement, amidst an
extremely challenging backdrop of the COVID-19 pandemic; we have
demonstrated agility both of our team and our business model, and
this agility will provide us with a strong platform for future
growth. Our newly created hand-sanitising brand DISINPLUS Ô has
started well and generated meaningful revenues in H1 and, given the
organic growth within the business, our Venture Life brands now
represent 53% of revenues. Furthermore, we have seen strong sales
in the UK and The Netherlands from the PharmaSource acquired
products, as well as strong orders from our Chinese partner.
With our strong balance sheet we continue to explore additive
M&A opportunities using our existing cash resources and
available debt finance alone.
The first half has demonstrated the resilience and opportunity
within our business, along with the strength and ingenuity of our
team, in very difficult economic circumstances, and we remain
confident that this will continue to be the case as we move into
the second half of the year."
For further information, please contact:
Venture Life Group PLC +44 (0) 1344 578004
Jerry Randall, Chief Executive Officer
Andrew Waters, Chief Financial Officer
Cenkos Securities plc (Nomad and Joint Broker) +44 (0) 20 7397 8900
Stephen Keys / Mark Connelly / Cameron MacRitchie (Corporate Finance)
Russell Kerr / Michael Johnson (Sales)
+44 (0) 20 7496
N+1 Singer (Joint Broker) 3000
Shaun Dobson / Carlo Spingardi
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, The
Netherlands and Italy, the Group's product portfolio includes some
key products such as the UltraDEX and Dentyl oral care product
ranges, food supplements for maintaining brain function, medical
devices for women's intimate healthcare, fungal infections and
proctology, and dermo-cosmetics for addressing the signs of
ageing.
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 Development & Manufacturing business in Italy,
Biokosmes, the Group also provides development and manufacturing
services to companies for consumer healthcare products, primarily
medical devices.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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