19th Sep 2019 12:10
(Alliance News) - Venture Life Group PLC posted a narrowed loss on Thursday for the first half of 2019, with a particularly strong performance from its brands business.
Shares in Venture Life were down 8.6% at 37.00 pence in London in midday trading.
The firm, which develops, manufactures and commercialises produces for the self-care market, reported a pretax loss for the six months ended June 30 of GBP118,000, shrinking from a GBP277,000 loss the year before.
Revenue rose 13% to GBP9.4 million from GBP8.3 million, which included a 22% rise in Venture Life brands revenue to GBP2.8 million from GBP2.3 million. Revenue from its customer brands business rose a more modest 10% to GBP6.6 million from GBP6.0 million.
Chief Executive Jerry Randall said: "Despite a challenging trading environment, I am pleased with the group's continued commercial progress, particularly the seven new international partnering agreements signed, which further expand the Venture Life footprint and reach.
"These agreements include increased distribution of the Dentyl range in China as well as the launch of UltraDEX in Asda and Well Pharmacy, and the launch of Dentyl into Lloyds Pharmacy in the UK. Traditionally, we enjoy a stronger second half and, with a very healthy order book, we expect that to be the case this year."
Randall added: "As the UK moves closer towards a possible Brexit at the end of October, we have undertaken significant mitigation planning against associated risk and remain well-prepared to manage possible disruptions to the business, including ensuring there is adequate UK stock and good short-term supply. Despite the challenges, Venture Life has a strong pipeline ahead and we approach the future with confidence."
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