Venture Life Group PLC Announcement re: Full year results (8016F)
23 März 2022 - 4:00PM
UK Regulatory
TIDMVLG
RNS Number : 8016F
Venture Life Group PLC
23 March 2022
23(rd) March 2022
VENTURE LIFE GROUP PLC
("Venture Life" "VLG" or the "Group")
Announcement re: Full year results for the year ended 31st
December 2021
Venture Life (AIM: VLG), a leader in developing, manufacturing
and commercialising products for the self-care market, announces
that the Company's auditors have been unable to meet the pre-agreed
timetable for the approval of the results on 24th March 2022,
citing resource issues. As a result of this delay, the Company
expects to announce its results for the year ended 31st December
2021 in early April.
The Company reiterates its guidance stated in its trading update
on 31st January 2022:
-- Revenue of GBP32.6 million for the FY21(2020: GBP30.1 million), up 8% on the prior year;
-- Revenue in the second half of the year was GBP18.7 million,
an increase of 35% over the revenues in the first half of the year
(GBP13.9 million);
-- Adjusted EBITDA in line with market expectations;
-- Momentum building in the business post acquisitions
demonstrated by Q4 revenue 59% above that in Q3; and
-- Net debt of GBP3.2m pre-IFRS16 (GBP7.3m IFRS16) reflecting a
phasing effect on working capital as a result of higher receivables
following strong Q4 revenue.
For further information, please contact:
Venture Life Group PLC +44 (0) 1344 578004
Jerry Randall, Chief Executive Officer
Daniel Wells, Chief Financial Officer
+44 (0) 20 7397
Cenkos Securities plc (Nomad and Joint Broker) 8900
Michael Johnson/Russell Kerr (Sales)
Stephen Keys/Camilla Hume (Corporate Finance)
+44 (0) 20 7496
Singer Capital markets (Joint Broker) 3000
Jonathan Dighe (Sales)
Shaun Dobson/Alaina Wong (Corporate Finance)
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 the UK, Italy,
The Netherlands and Sweden, the Group's product portfolio includes
some key products such as the UltraDEX and Dentyl oral care product
ranges, the Balance Activ range in the area of women's intimate
healthcare, the Lift and Glucogel product ranges for hypoglycaemia,
products for fungal infections and proctology, and dermo-cosmetics
for addressing the signs of ageing. Its products are sold in over
90 countries worldwide.
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 to retailers, elsewhere
they are supplied by the Group's international distribution
partners.
Through its two Development & Manufacturing operations in
Italy and Sweden, the Group also provides development and
manufacturing services to companies in the medical devices and
cosmetic sectors.
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END
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