Pre-close trading statement

RNS Number : 5842F

Venture Life Group PLC

29 July 2016

 

29 July 2016

Venture Life Group plc

("Venture Life" or the "Group")

Pre-Close Trading Statement

Venture Life (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, provides a pre-close trading statement for the first half of the financial year ending 31 December 2016. 

Revenues for the six months ended 30 June 2016 are expected to be £6.1m, 40% higher than for the same period last year (H1 2015: £4.4m). This outturn includes the first four months of revenues from Periproducts Limited following its acquisition by the Group on 4 March 2016, and we are encouraged that the Group's order book at the half year is markedly ahead of the level at the same time last year.

Following the successful acquisition of Periproducts, the Group has already concluded three international long term product distribution deals for the UltraDEX fresh breath brand, including for Spain, one of the Group's priority markets.  Additionally, commercial progress across the Group's own brand portfolio has also been good: the Group has concluded two new long term distribution deals for the Benecol once-a-day sachet product (newly developed by the Group and with a two year shelf life), and has signed further distribution deals in its Brands business.  In the Manufacturing business, the Group has signed an agreement to develop and manufacture a number of products for the Italian pharmaceutical company, Menarini Farmaceutica Internazionale Srl.

In relation to its patent estate the Group has been allowed patents in the USA, New Zealand and South Africa for its multicomponent oral care composition used in the UltraDEX Recalcifying and Whitening Daily Oral Rinse, a product for fresh breath for consumers with sensitive teeth. These add to the pre-existing patents in the UK and USA.

Commenting, Chief Executive Officer, Jerry Randall, said: "I am pleased with the progress in the first half of 2016. Our revenues are up 40% compared to the same period last year and we have seen growth across the whole business. This growth has been achieved by delivering on our strategy of generating both organic and acquisitive growth, which in 2016 featured the successful acquisition of Periproducts Limited, including the UltraDEX brand. Good commercial progress already made with this new brand has reinforced our view that there is strong demand for this type of product in the international markets.  We expect to see more such progress internationally with UltraDEX, and we are working on revitalising the brand in the UK. The integration of Periproducts continues apace with many of the functions now integrated into our existing business. Given our progress in 2016 to date, we look ahead with confidence to the rest of the year."

For further information, please contact:

Venture Life Group PLC		[phone]
Jerry Randall, Chief Executive Officer
James Hunter, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated Adviser and Broker)		[phone]
Freddy Crossley/Peter Steel/Duncan Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Walbrook PR	[e-mail] or [phone]
Paul McManus		[phone]
Anna Dunphy		[phone]

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 ageing population. The Group's product range and pipeline currently includes the UltraDEX oral care products range, food supplements for lowering cholesterol and maintaining brain function, dermo-cosmetics for addressing the signs of ageing, and medical devices for improving minor aches and pains, dry eyes and itchy skin.

The products, which typically are recommended by pharmacists or healthcare practitioners, are available primarily through pharmacies supplied by the Group's international distribution partners.

Through its manufacturing company, Biokosmes, the Group also provides development and manufacturing services to companies in the medical devices and cosmetic sectors.

 

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