Venture Life Group PLC Trading and Commercial Update
RNS Number : 3339O
Venture Life Group PLC
29 January 2019
VENTURE LIFE GROUP PLC
("Venture Life" or the "Group")
Trading and Commercial Update
Double digit revenue growth
Distribution gains for Dentyl(R) and further expansion of
Venture Life Group plc (AIM: VLG), the international consumer
healthcare group focused on developing, manufacturing and
commercialising products for the self-care market, provides a
trading update, together with other commercial progress.
Venture Life has delivered yet another year of double digit
revenue growth, with the Group expecting to achieve revenue for the
year ended 31st December 2018 of GBP18.7 million, a 16% increase
over the reported Group revenue of GBP16.1 million for the prior
year. Adjusted EBITDA is expected to be at least in line with
Venture Life will announce its preliminary results for the year
ended 31 December 2018 on Thursday 21 March 2019.
Since the update given in November 2018, there has been further
progress with the Dentyl(R) brand in the UK.
The Morrisons grocery chain has confirmed the launch of
Dentyl(R) BB Mints in just under 300 stores in the UK; this new
launch is the first since the launch of the BB Mints in Tesco in
2018. At the same time, Dentyl(R) has gained additional
distribution (+150 stores) across the Superdrug estate.
Furthermore, a new variant of UltraDEX(R) has been developed and
launched in January 2019 - UltraDEX(R) Whitening, with patented
technology. This has been launched in Boots and is soon to launch
in Sainsbury's as well as Ocado and Amazon.
Internationally, a long term deal has been signed on UltraDEX in
South Africa. Our new partner is expected to launch in H1 2019 and
this brings the total number of markets partnered to 18 for
UltraDEX(R), including the UK and Ireland.
Furthermore, a new long term deal on Myco Clear(R) has been
signed in France with a new partner with its launch expected in Q2
Adrian Crockett, CFO, has left the business with immediate
effect to pursue other opportunities - we wish him well with his
endeavours. The Venture Life Board has commenced the process to
identify a successor and will update the market in due course. In
the interim, the Company's operational finance function will
continue to operate as normal and will be overseen by Jerry Randall
pending the appointment of a new CFO.
Jerry Randall, CEO of Venture Life, commented: "I am delighted
to see another year of double digit growth for the Group, driven by
our dual strategy of organic and acquisitive growth. The most
recent acquisition, the Dentyl(R) oral care brand, continues to
develop in our hands as we integrate this into our business, and
these new listings demonstrate the traction our team is achieving
with this new brand already. I look forward to giving further
updates on Dentyl(R) as this year progresses, and to updating the
market with our full trading results on 21(st) March 2019."
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulation (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information, please contact:
+44 (0) 1344
Venture Life Group PLC 578004
Jerry Randall, Chief Executive Officer
+44 (0) 20 7397
Cenkos Securities Ltd (Nomad and Broker) 8900
Mark Connelly / Stephen Keys / Cameron MacRitchie
Russell Kerr / Michael Johnson (Sales)
Walbrook PR firstname.lastname@example.org or + 44
(0) 20 7933 8780
Anna Dunphy / Paul McManus +44 (0) 7876 741 001 / +44 (0)
7980 541 893
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 both the UK 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 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 these are supplied
direct by the company, outside of the UK 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 in the medical devices and cosmetic
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(END) Dow Jones Newswires
January 29, 2019 02:00 ET (07:00 GMT)