RE: Updating the Market.20 May 2021 18:21
He updated the market on 25th March 2021 with the following;
Jerry Randall, Chief Executive Officer of Venture Life, commented:
"I am delighted to report that 2020 was an exceptional year for Venture Life, achieving 49% growth in revenues and over 100% growth on EBITDA, amidst unprecedented global circumstances. The whole team has reacted and adapted incredibly well to the pandemic, despite the constraints it has placed on the business. In particular, the team at our development and manufacturing plant in Italy maintained production output continuously throughout 2020 and continues to do so to date in 2021. I am delighted that shipments to our Chinese customer for Dentyl have already resumed this year. I extend my heartfelt thanks to every single person at Venture Life for this incredible achievement. In addition during 2020, we significantly increased capacity at our factory, which will enable us to accommodate significant new organic growth and acquisitions in the future.
And at the end of 2020, we raised £34.1 million net of expenses for acquisitions from existing and new shareholders and I would like to thank them for their support. We expect to use this funding to make earnings enhancing acquisitions and grow profitability utilising the newly created capacity in our operating structure. 2020 was an outstanding year of performance for the business, and despite the first quarter of 2021 seeing most markets in lockdown, we look forward to 2021 with confidence."
GLA