Venture Life Group PLC Trading update (0382P)
November 14 2016 - 2:00AM
UK Regulatory
TIDMVLG
RNS Number : 0382P
Venture Life Group PLC
14 November 2016
Venture Life Group plc
("Venture Life" or the "Group")
Trading Update
Venture Life (AIM: VLG), the international consumer self-care
group focused on developing, manufacturing and commercialising
products for the ageing population, provides the following trading
update for the year ending 31 December 2016.
As stated at the time of the interim results on 21 September
2016, the strong revenue growth that we saw in the first half has
continued into the second half of the year with the strong order
book and strengthening Euro converting into improving revenue. As a
result of the continued growth, the Group expects to report revenue
for the year ending 31 December 2016 of not less than GBP14.0
million, an increase of more than 50% on Group revenue reported for
the year ended 31 December 2015.
UltraDEX acquisition and performance
The Group has made good progress on the integration of
Periproducts since the acquisition of the company and the UltraDEX
brand in March 2016. Manufacturing processes for the UltraDEX
toothpaste and oral rinse products have been fully established at
the Group's manufacturing facility in Italy and the first UltraDEX
products manufactured in-house have been shipped to customers. The
leasehold property previously occupied by Periproducts in Ruislip
has now been vacated and all operations transferred to Venture
Life's offices in Bracknell.
The UltraDEX advertising campaign which launched on 10 October
2016 ran as planned for two weeks and the product sampling activity
at certain London railway stations was well-received by consumers.
As previously announced, the planned advertising campaign had led
to a number of major UK retailers planning to increase store
distribution and product listings for UltraDEX in Q4 2016. The
Group saw an uplift in UltraDEX revenue compared to preceding
months, in both September, resulting from these extra listings, and
also during October, when there were both increased listings and
the advertising campaign running.
As previously announced, the Group has signed three long term
international distribution agreements for the UltraDEX range, and
the first of these partners to launch the product in market is
Serra Pamies in Spain. Serra Pamies initiated the launch during
October 2016 with product manufactured at our Development &
Manufacturing business. Malaysia will be the next market to launch
UltraDEX in January 2017 and the product is currently in
production.
UK Sales Director appointed
Tim Scott joined Venture Life on 4 November 2016 as the Group's
new UK Sales Director. Tim has extensive experience of the health
and beauty sector, having previously worked within the oral care
division at GSK as well as for Sleek Cosmetics, acquired in 2015 by
the Walgreens Boots Alliance Group. Tim will be responsible for
developing our key account strategy and sales of our branded
products into the UK market. Initially this will be focused on the
UltraDEX range but we expect the scope to be widened to include
bringing more of the Group's branded products to the UK market.
Other Commercial Activities
We continue to seek to partner our products globally, and have
interest from many countries in our portfolio of products,
including the new UltraDEX brand.
Our Development & Manufacturing business continues to grow
and the Group expects 2016 to be a record year for revenue for this
business. As part of our ambitious plans to grow the Group, we
continue to invest in the Development & Manufacturing business
to accommodate our growth plans and ensure that we remain
competitive in quality, service and price.
The order book for 2017 is already building steadily and we are
pleased to report that the order book for our Development &
Manufacturing business for the month of January 2017 is already 45%
higher than actual revenue recognised in January 2016, excluding
intercompany sales.
Jerry Randall, CEO of Venture Life, commented: "The strong
revenue growth this year is further evidence that the Group is on a
trajectory towards achieving its strategic goal of becoming
sustainably profitable. I am particularly pleased that we have now
fully integrated the UltraDEX business into the Group and that we
already have international partners preparing to launch the
UltraDEX brand in overseas markets. I am delighted to welcome Tim
Scott into the Group, to grow our UK presence with key retailers,
initially with our UltraDEX product range. The strong Development
& Manufacturing order book for January 2017, which is well
ahead of actual January 2016 revenue, demonstrates that the
momentum is continuing into 2017."
For further information please contact:
Venture Life Group PLC +44 (0) 1344 742870
Jerry Randall, Chief Executive
Officer
James Hunter, Chief Financial Officer
Panmure Gordon (UK) Limited (Nominated +44 (0) 20 7886
Adviser and Joint Broker) 2500
Freddy Crossley/Peter Steel/Duncan
Monteith (Corporate Finance)
Tom Salvesen (Corporate Broking)
Turner Pope Investments (TPI) Ltd +44 (0) 20 3621
(Joint Broker) 4120
James Pope/Ben Turner
Walbrook PR venturelife@walbrookpr.com
or +44 (0) 20 7933 8780
Paul McManus/Anna Dunphy +44 (0) 7980 541 994 / +44
(0) 7876 741 001
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) No 596/2014 (MAR).
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 Development & Manufacturing business, Biokosmes,
the Group also provides development and manufacturing services to
companies in the medical devices and cosmetic sectors.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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