VENTURE LIFE GROUP PLC
("Venture Life" or the "Group")
Trading and Commercial Update
Double digit revenue growth
Distribution gains for Dentyl® and further expansion of UltraDEX® internationally
Directorate change
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 £18.7 million, a 16% increase over the reported Group revenue of £16.1 million for the prior year. Adjusted EBITDA is expected to be at least in line with market expectations.
Venture Life will announce its preliminary results for the year ended 31 December 2018 on Thursday 21 March 2019.
Commercial Update
Since the update given in November 2018, there has been further progress with the Dentyl® brand in the UK.
The Morrisons grocery chain has confirmed the launch of Dentyl® 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® has gained additional distribution (+150 stores) across the Superdrug estate.
Furthermore, a new variant of UltraDEX® has been developed and launched in January 2019 - UltraDEX® 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®, including the UK and Ireland.
Furthermore, a new long term deal on Myco Clear® has been signed in France with a new partner with its launch expected in Q2 2019.
Directorate change
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® 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® as this year progresses, and to updating the market with our full trading results on 21st 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:
Venture Life Group PLC |
+44 (0) 1344 578004 |
Jerry Randall, Chief Executive Officer |
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Cenkos Securities Ltd (Nomad and Broker) |
+44 (0) 20 7397 8900 |
Mark Connelly / Stephen Keys / Cameron MacRitchie (Corporate Finance) |
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Russell Kerr / Michael Johnson (Sales) |
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Walbrook PR |
[email protected] or + 44 (0) 20 7933 8780 |
Anna Dunphy / Paul McManus |
+44 (0) 7876 741 001 / +44 (0) 7980 541 893 |
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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 sectors.
