Last checked at 9 Mar 2020 07:00
Venture Life Group plc
("Venture Life" or the "Company")
Trading Update and Notice of Results
Venture Life Group plc (AIM: VLG), a leader in developing, manufacturing and commercialising products for the international self-care market, provides an update on current trading ahead of announcing it full year results. The Company is pleased to announce that it has made a strong start to 2020. The integration of PharmaSource BV, acquired in December last year is going according to plan and the Company's order book remains strong. In particular, the expected growth in orders from China, referred to in the Company's trading statement of 19 December 2019, has materialised and, whilst still early in the year, orders from China are exceeding expectations.
Safety of our employees is our prime concern, and the Company has taken reasonable and appropriate precautions to protect against any impact from COVID-19 at its Biokosmes facility. The Company holds ample stocks for production and packaging and now has additional reserve stock. The Company has not experienced absenteeism over what would normally be expected at this time of year and is pleased to note that there has been no impact to production. Also the Company can confirm that despite the quarantine restrictions announced this weekend in the Region of Lombardy, shipments to customers and from suppliers outside of the Region of Lombardy will not be affected, as they are not prohibited under the quarantine regulations.
Notice of Results
The Company expects to announce its results for the year ended 31 December 2019 on 26 March 2020.
Jerry Randall, Chief Executive Officer of Venture Life, commented: "We are pleased to report that our strong order book going into Q1 has been converting to sales during the current trading period. We remain well stocked and have appropriate contingency plans in place to ensure all parts of the supply chain are maintained, and we continue to see good levels of demand across all areas of our business. We look forward to providing a further update at the time of our full year results."
For further information, please contact:
Venture Life Group plc | +44(0) 1344 578004 |
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Jerry Randall, Chief Executive Officer |
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Cenkos Securities plc (Nomad and Broker) | +44(0)20 7397 8900 |
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Mark Connelly / Stephen Keys / Cameron MacRitchie (Corporate Finance) |
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Russell Kerr / Michael Johnson (Sales) |
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| Alma PR |
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| Hilary Buchanan / Helena Bogle / Kieran Breheny |
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About Venture Life (www.venture-life.com)
Venture Life is an international consumer self-care company focused on acquiring, developing, manufacturing and commercialising products for the global self-care market. With operations in the UK, Italy and the Netherlands, the Group's product portfolio includes some key products such as the UltraDEX and Dentyl oral care product ranges, , medical devices for dermatology, oral care, 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 and the Netherlands these are supplied direct by the company, elsewhere 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 OTC consumer products sector, primarily in respect of medical devices.