Trading update

RNS Number : 7615K

Venture Life Group PLC

12 July 2017

 

12 July 2017

Venture Life Group plc

("Venture Life" or "the Group")

Trading update for the 6 months ended 30 June 2017

28% growth in revenues

Venture Life Group plc (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the ageing population, today provides a trading update for the six months ended 30 June 2017. 

·     Unaudited revenues for the six months ended 30 June 2017 were £7.8m, 28% higher than the same period last year (H1 2016: £6.1m)

·     On a like for like basis (including a full 6 months of Periproducts revenues for H1 2016) this is growth of 18% over H1 2016

·     Periproducts (UltraDEX UK) recorded its highest month of revenue in June for at least the last 5 years

·     Record month in Biokosmes as it recorded its largest ever revenue for a single month in June

·     4 new deals signed internationally, including one on UltraDEX

June has seen the second UltraDEX promotional campaign in 2017 in the UK, which included TV advertising and promotions through independent coffee shops amongst other activities. July will also see the launch of the newly refreshed range of packaging in our major pharmacy partner, along with the launch of the UltraDEX sensitive range and new one litre packs sizes. There was also confirmation in the first half of the year that store penetration will increase (taking effect in July 2017), with 1,503 new listings of UltraDEX in stores across the UK with our major pharmacy partner.

Commenting, Chief Executive Officer, Jerry Randall, said: "The first half of 2017 has shown continued growth and momentum in the business.  The UltraDEX acquisition is now fully integrated and delivering the synergies and profitability expected. It is also attracting good interest internationally.  This has validated our decision to make the acquisition and also proves the model we have for utilising the good operational leverage that we have which is available for future acquisitions. I am delighted with the continued organic growth of the business in challenging markets and in particular, that we have delivered a record level of sales during June in both Biokosmes, and UltraDEX."

For further information please contact:

Venture Life Group PLC			[phone]
Jerry Randall, Chief Executive Officer
Adrian Crockett, Chief Financial Officer
Northland Capital Partners Limited (Nominated Adviser and Joint Broker)			[phone]
Matthew Johnson / Edward Hutton / Margarita Mitropoulou (Corporate Finance)
Bob Pountney / John Howes (Corporate Broking)
Turner Pope Investments (TPI) Ltd (Joint Broker)			[phone]
James Pope / Ben Turner
Walbrook PR	[e-mail] or + 44 (0) 20 7933 8780
Paul McManus / Anna Dunphy		[phone] / [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 portfolio includes some key products such as the UltraDEX oral care products range, food supplements for lowering cholesterol and maintaining brain function, medical devices for women's intimate healthcare and haemorrhoids 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 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 sectors.

 

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