REG - Venture Life Group - Announcement re: Full year results

Venture LifeAnnouncement

23/03/2022 15:15

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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 £32.6 million for the FY21(2020: £30.1 million), up 8%
on the prior year;

·    Revenue in the second half of the year was £18.7 million, an
increase of 35% over the revenues in the first half of the year (£13.9
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 £3.2m pre-IFRS16 (£7.3m 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

 Cenkos Securities plc (Nomad and Joint Broker)      +44 (0) 20 7397 8900
 Michael Johnson/Russell Kerr (Sales)

 Stephen Keys/Camilla Hume (Corporate Finance)

 Singer Capital markets (Joint Broker)               +44 (0) 20 7496 3000
 Jonathan Dighe (Sales)

 Shaun Dobson/Alaina Wong (Corporate Finance)

About Venture Life (www.venture-life.com (http://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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