Business
Half Year Trading Update
Half Year Trading Update.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 4082T\n Venture Life Group PLC\n 20 July 2020\n \n \n \n \n 20 July 2020\n \n \n \n \nVenture Life Group plc\n \n \n (\"Venture Life\" the \"Company\" or the \"Group\")\n \n \n Half Year trading update\n \n \n \n \n \n Venture Life Group plc (AIM: VLG), a leader in developing, manufacturing and commercialising products for the international self-care market, provides an update on its performance for the six months to 30 June 2020, after a period of strong trading. \n \n \n Financial Highlights:\n \n \n · \n Revenues increased 80% to £16.9 million (H1 2019: £9.4 million) \n \n \n · \n 65% from organic growth and 15% from acquired growth\n \n \n · \n Venture Life brands revenue represented 53% of revenues (H1 2019: 30%)\n \n \n · \n PharmaSource revenues increased +43% compared to H1 2019\n \n \n Commercial Highlights:\n \n \n · \n 8 new partnering agreements completed\n \n \n · \n 15-year exclusive agreement signed with Chinese partner - total agreement worth a minimum of 168 million \n \n \n · \n 11 long term development and manufacturing agreements completed\n \n \n · \n 8 new products developed for newly created DISINPLUS\n Ô\n \n \n \n hand sanitiser brand, with ASDA ordering 1 million units in H1\n \n \n · \n Appointment as second manufacturer of Alliance Pharmaceuticals Kelo-Cote products\n \n \n Post-Period End:\n \n \n · \n New long term exclusive distribution agreement signed in Spain for Procto-eze Plus\n \n \n · \n New long term exclusive distribution agreement signed in Israel on the Nail Fungal Pen, Wart Pen and Shoe Spray\n \n \n \n \n \n \n \n \n \n Jerry Randall, CEO of Venture Life said\n \n , \"There has been step change in the business in this first half of the year, with revenues increasing by 80% to £16.9 million, of which 65% is from organic growth alone. This is a remarkable achievement, amidst an extremely challenging backdrop of the COVID-19 pandemic; we have demonstrated agility both of our team and our business model, and this agility will provide us with a strong platform for future growth. Our newly created hand-sanitising brand DISINPLUS\n Ô\n \n \n \n \n has started well and generated meaningful revenues in H1 and, given the organic growth within the business, our Venture Life brands now represent 53...