22nd Mar 2018 11:51
The company recorded
The company said that the rise in pretax profit resulted from its organic growth, with the international expansion of the products. In addition, the launch of UltraDEX product range in the
The company said it is looking to invest in new acquisition opportunities and expects to continue to add acquired assets to its operating platform in the following months and years, in response to the successful UltraDex launch.
"The group still has significant operational leverage and capacity through which it can exploit increasing revenues to drive incremental gross profit to the bottom line. This strategy, along with carefully selected acquisitions, will fuel the group's continued profitable growth," said Non-Executive Chair Lynn Drummond.
"Venture Life has delivered another year of good organic revenue growth across its business, and achieved another of its objectives by delivering a profit before tax for the first time. This coupled with a cash positive in second half year 2017, means we expect to be sustainably profitable going forward," Chief Executive Jerry Randall said.
"Our strategy continues to be a focus on revenue growth, through both organic growth of our existing portfolio and through acquisition. 2018 has started well with our order book ahead of the same point in 2017, and I look forward to another good year of growth for the group," Randall added.
The company declared an unchanged final dividend of
Shares in Venture Life were 14% up at
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