from pro active inv.26 Jan 2017 09:28
Venture Life Group (LON:VLG): Trading update
Market Cap: £21m; Current Price: 58p
Revenues up 57%
Venture Life issued a trading update for the year ended 31 December 2016.
The Group achieved record revenue of £14.3 million, an increase of 57% on the prior year.
The Group also expects its first full year of EBITDA profitability.
Associated cash conversion has also improved and as at 31 December 2016, the Group had cash of approximately £2.0 million.
Finally, the Company reported that its order book for 2017 is building well and January 2017 was 45% higher when compared to actual revenue recognised in January 2016.
NORTHLAND CAPITAL PARTNERS VIEW: Venture Life had a very good year in 2016. The Group’s growth strategy is delivering. Not only has the Company achieved record revenues, it is also now EBITDA profitable. Moreover, 2017 is off to a strong start.