Venture Life Group PLC Trading update & notice of interim results (9402X)
16 August 2018 - 4:00PM
UK Regulatory
TIDMVLG
RNS Number : 9402X
Venture Life Group PLC
16 August 2018
Venture Life Group plc
("Venture Life" or the "Company")
Trading update & notice of interim results
- Further geographical expansion of UltraDEX sales
- H1 revenues up 6% driven entirely by organic growth
- Stronger H2 expected with further organic growth (order book up 20%) and Dentyl contribution
Venture Life (AIM: VLG), the international consumer self-care
company focused on developing, manufacturing and commercialising
products for the self-care market, announces it will launch its
flagship product, UltraDEX into the mass market channel in three
additional EU markets from Q4 2018.
The Company has further extended its partnership with its key
French partner, La Brosse et Dupont SAS ("La Brosse"), to launch
products from the UltraDEX range in Spain, Portugal and Belgium
into the mass market (grocery multiple) channel from Q4 2018. La
Brosse will also launch UltraDEX One Go liquid sachets and UltraDEX
sensitive toothpaste into the French mass market channel in Q4
2018.
In addition, UltraDEX was recently partnered in Austria and the
United Arab Emirates and launch is scheduled in these markets for
Q4 2018/Q1 2019. In total, UltraDEX has now been partnered in 15
geographic markets to date and the Company fully expects to have
UltraDEX partnered in at least 30 markets by the end of 2020.
The Company also announces that revenues for the first half of
the year were approximately GBP8.3 million, an increase of
approximately 6% over the same period last year, such growth being
entirely organic. Revenues for the second half of the year are
expected to be higher than for the first half, and in line with
market expectations for the full year. In addition to further
organic growth, the second half will include the first contribution
from the newly acquired Dentyl brand (acquired effective 7 August
2018). Aside from the addition of Dentyl revenues, the stronger
second half is also due to order phasing and the impact of
additional new business, such as the increase in UltraDEX listings
in the UK and the augmented business with partner Alliance Pharma,
both of which were announced earlier this year. The expected
increase in revenues in H2 2018 is also evidenced by the Group's
order book, which at the end of July was more than 20% higher than
at the same time last year.
The Company will announce its interim results for the 6 months
ended 30 June 2018 on Thursday, 20 September 2018.
Commenting Chief Executive Officer, Jerry Randall, said: "We are
delighted to extend our relationship with our key French partner
into additional markets in the EU and particularly into the mass
market. La Brosse et DuPont has made an excellent start to its
launch of UltraDEX mouthwash in France, and has already extended
the range to include both the sensitive toothpaste and One Go
products, launching both in France in H2 2018. This is further
testament that our UltraDEX brand is starting to make an impact
internationally in key markets. Together with the new partnership
agreements for UltraDEX in Austria and the UAE, this means UltraDEX
is now partnered in 15 markets in total and we expect this success
to continue into 2019 and beyond.
"I am also pleased with the continued organic growth of the
business in the first half, and I am excited about the prospects of
the Company as we move into the second half, where we will benefit
from a number of items of additional business as announced earlier
this year.
"Having successfully completed the acquisition of the Dentyl
brand, we are already working to both integrate this brand and to
apply our internal expertise to develop its future with the aim to
replicate the success we have achieved with UltraDEX. The
acquisition of this valuable brand is another step in our strategic
path to grow revenues and utilise the significant operating
leverage we possess to drive profit growth. We continue to use this
route in the future to bring more interesting assets into the
Company."
For further information please contact:
+44 (0) 1344
Venture Life Group PLC 742870
Jerry Randall, Chief Executive Officer
Adrian Crockett, Chief Financial Officer
Northland Capital Partners Limited (Nominated Adviser +44 (0) 20 3861
and Joint Broker) 6625
Matthew Johnson / Edward Hutton (Corporate Finance)
Vadim Alexandre (Corporate Broking)
+44 (0) 207
Cenkos Securities plc (Joint Broker) 397 8900
Mark Connelly (Corporate Finance)
Russell Kerr / Michael Johnson (Sales)
+44 (0) 20 3621
Turner Pope Investments (TPI) Ltd (Joint Broker) 4120
Andy Thacker
Walbrook PR venturelife@walbrookpr.com 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 lowering cholesterol and 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
sectors.
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END
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