LONDON (Alliance News) - Venture Life Group PLC on Tuesday reported 16% revenue growth in 2018, boosted by the roll out of Dentyl mouth hygiene products in the UK and UltraDEX in South Africa.
Separately, the company said Chief Financial Officer Adrian Crockett has left the business with immediate effect to pursue other opportunities.
Venture Life has commenced the process to identify a successor, with Chief Executive Jerry Randall overseeing the company's finance operations until one is found.
The consumer healthcare company has delivered another year of double digit revenue growth, it said, to GBP18.7 million from GBP16.1 million reported the year before.
In addition, the company expects adjusted earnings before interest, taxes, depreciation, and amortization to be at least in line with market expectations.
The growth was helped by further progress of the Dentyl brand in the UK, the company said, as WM Morrison Supermarkets PLC launching Dentyl BB mints in just under 300 stores in the UK.
Furthermore, a new variant of UltraDEX oral rinse was launched in January, and is now available in Boots and will be soon launched in J Sainsbury PLC, Ocado PLC, and Amazon.com Inc stores.
Internationally, a long-term deal has been signed on UltraDEX in South Africa, Venture Life said, with the product launch expected in the first half.
"I am delighted to see another year of double digit growth for the group, driven by our dual strategy of organic and acquisitive growth," said Randall.
Venture Life intends to publish its 2018 results on March 21. Shares were up 6.2% on Tuesday at 48.85 pence each.
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Venture Life (VLG)
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