Last checked at 16 Aug 2018 07:00
Venture Life Group plc
("Venture Life" or the "Company")
Trading update & notice of interim results
- Further geographical expansion of UltraDEX sales
- H1 revenues up 6% driven entirely by organic growth
- Stronger H2 expected with further organic growth (order book up 20%) and Dentyl contribution
Venture Life (AIM: VLG), the international consumer self-care company focused on developing, manufacturing and commercialising products for the self-care market, announces it will launch its flagship product, UltraDEX into the mass market channel in three additional EU markets from Q4 2018.
The Company has further extended its partnership with its key French partner, La Brosse et Dupont SAS ("La Brosse"), to launch products from the UltraDEX range in Spain, Portugal and Belgium into the mass market (grocery multiple) channel from Q4 2018. La Brosse will also launch UltraDEX One Go liquid sachets and UltraDEX sensitive toothpaste into the French mass market channel in Q4 2018.
In addition, UltraDEX was recently partnered in Austria and the United Arab Emirates and launch is scheduled in these markets for Q4 2018/Q1 2019. In total, UltraDEX has now been partnered in 15 geographic markets to date and the Company fully expects to have UltraDEX partnered in at least 30 markets by the end of 2020.
The Company also announces that revenues for the first half of the year were approximately £8.3 million, an increase of approximately 6% over the same period last year, such growth being entirely organic. Revenues for the second half of the year are expected to be higher than for the first half, and in line with market expectations for the full year. In addition to further organic growth, the second half will include the first contribution from the newly acquired Dentyl brand (acquired effective 7 August 2018). Aside from the addition of Dentyl revenues, the stronger second half is also due to order phasing and the impact of additional new business, such as the increase in UltraDEX listings in the UK and the augmented business with partner Alliance Pharma, both of which were announced earlier this year. The expected increase in revenues in H2 2018 is also evidenced by the Group's order book, which at the end of July was more than 20% higher than at the same time last year.
The Company will announce its interim results for the 6 months ended 30 June 2018 on Thursday, 20 September 2018.
Commenting Chief Executive Officer, Jerry Randall, said: "We are delighted to extend our relationship with our key French partner into additional markets in the EU and particularly into the mass market. La Brosse et DuPont has made an excellent start to its launch of UltraDEX mouthwash in France, and has already extended the range to include both the sensitive toothpaste and One Go products, launching both in France in H2 2018. This is further testament that our UltraDEX brand is starting to make an impact internationally in key markets. Together with the new partnership agreements for UltraDEX in Austria and the UAE, this means UltraDEX is now partnered in 15 markets in total and we expect this success to continue into 2019 and beyond.
"I am also pleased with the continued organic growth of the business in the first half, and I am excited about the prospects of the Company as we move into the second half, where we will benefit from a number of items of additional business as announced earlier this year.
"Having successfully completed the acquisition of the Dentyl brand, we are already working to both integrate this brand and to apply our internal expertise to develop its future with the aim to replicate the success we have achieved with UltraDEX. The acquisition of this valuable brand is another step in our strategic path to grow revenues and utilise the significant operating leverage we possess to drive profit growth. We continue to use this route in the future to bring more interesting assets into the Company."
For further information please contact:
Venture Life Group PLC | +44 (0) 1344 742870 | |
Jerry Randall, Chief Executive Officer | ||
Adrian Crockett, Chief Financial Officer | ||
Northland Capital Partners Limited (Nominated Adviser and Joint Broker) | +44 (0) 20 3861 6625 | |
Matthew Johnson / Edward Hutton (Corporate Finance) | ||
Vadim Alexandre (Corporate Broking) | ||
Cenkos Securities plc (Joint Broker) | +44 (0) 207 397 8900 | |
Mark Connelly (Corporate Finance) | ||
Russell Kerr / Michael Johnson (Sales) | ||
Turner Pope Investments (TPI) Ltd (Joint Broker) | +44 (0) 20 3621 4120 | |
Andy Thacker | ||
Walbrook PR | venturelife@walbrookpr.com or + 44 (0) 20 7933 8780 | |
Anna Dunphy / Paul McManus | +44 (0) 7876 741 001 / +44 (0) 7980 541 893 | |
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 global self care market. With operations in both the UK and Italy, the Group's product portfolio includes some key products such as the UltraDEX and Dentyl oral care product ranges, food supplements for lowering cholesterol and maintaining brain function, medical devices for 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 these are supplied direct by the company, outside of the UK 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 medical devices and cosmetic sectors.