In an update for the year ended 31 December 2021, Venture Life Group (VLG) said it expects to report revenue of £32.6 million for the period, up 8% on £30.1m reported in the prior year.

Venture Life Group, a company which creates products for the self-care market, said 2H21 revenue was stronger than in 1H at £18.7m, an increase of 35% over £13.9m the first half.

In particular, the company said momentum had built in the business’ post acquisitions which it told investors was demonstrated by 4Q21 revenue which came 59% higher than that in 3Q21.

Adjusted EBITDA for the period was in line with market expectations and as at 31 December 2021, net debt stood at £3.2m. This was slightly higher than previous guidance, and the group said this is reflective of ‘a phasing effect’ on working capital following strong revenue in 4Q. 

Today, the Board informed investors the momentum seen in the second half of the 2021 financial year has continued into 2022 and that the order book for the Company is therefore ‘significantly ahead’ of the same time last year, underpinning its confidence in the year ahead.

As previously noted earlier this month, Venture appointed a new partner, Samarkand Global, for its oral care products in China. It said shipments have already commenced to this partner.  

In addition, an unnamed but ‘leading’ UK health and beauty retailer has confirmed they will launch the company’s in-house developed product for rosacea in the UK and Ireland later in 1H22 with the product being marketed under their own brand, Venture detailed to investors.

The company highlighted to investors that this will mark the first product launch under this retailer’s own brand, adding that the deal could pave the way for future collaborations. 

The company outlined that another key UK health and beauty retailer will launch the group’s Wart & Verruca Pen and Women’s Intimate Gel in 2H22 under their own brand and that other new agreements have been recently completed for other products across further territories

After successfully integrating its BBI Healthcare and Helsinn acquisitions, one of these new agreements has been signed for Pomi-T in Germany to mark the start of the company’s expansion plan of this product into another of the five major EU markets, it explained.

Jerry Randall, CEO of Venture Life, commented: “2021 was a difficult year for the Group given the significant headwinds experienced, and I am pleased with the revenues delivered.  As with many businesses supply chain and logistics continue to be an issue but we are managing these challenges to meet the needs of our suppliers, our customers and ourselves.”

Addressing shareholders, he added: “The partnership with our new partner for China has started well, and we look forward to a long and successful relationship with them. The acquisitions we made in 2021 are now fully integrated and have performed extremely well, contributing significantly to our strong growth in revenue and profitability in the second half. 

We have started 2022 with an order book significantly ahead of the same time last year, giving us a good level of confidence for the year ahead. I would like to acknowledge the efforts of the whole team at Venture Life in delivering the second half revenues in extremely challenging supply chain circumstances, and I give my thanks to each and every one of them’.

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