Business
Notice of Results Update and Trading Update
Notice of Results Update and Trading Update.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 4536H\n Venture Life Group PLC\n 25 March 2020\n \n \n \n 25 March 2020\n \n Venture Life Group plc\n (\"Venture Life\" or the \"Company\")\n Notice of Results Update and Trading Update\n As previously announced, Venture Life Group plc (AIM: VLG), the international consumer self-care group focused on developing, manufacturing and commercialising products for the self-care market, intended to announce its preliminary results for the year ended 31 December 2019 on Thursday 26 March 2020.\n Whilst the Company is in a position to announce the preliminary results, the Company has agreed with its auditor, Grant Thornton LLP, to abide by the announcement from the UK Financial Conduct Authority on 22 March 2020, and subsequent statement by the Financial Reporting Council, that all listed companies that were preparing to announce should delay releasing their preliminary financial statements, in order to ease the practical challenges faced by the audit profession during the Coronavirus crisis.\n \n The Board will update the market with a new date for the release of its audited preliminary results as soon as practicable.\n \n \n Trading update\n \n 2020 has started well for the Group, despite the issues surrounding the COVID-19 outbreak. The Group's business units in the UK, Italy and the Netherlands are still operational at this time. The Italian Government has closed all but essential businesses in Italy from the start of this week, but our Italian business is still allowed to operate as it is considered an essential business. The Group has put in place stringent precautions in all its business units both to protect its employees and to comply with Government rulings, and also to ensure continued supply to our customers. The Board extends its thanks to all employees who have continued to work tirelessly under these difficult circumstances, in particular in Italy, one of the hardest affected regions.\n Since the start of the year, orders of Dentyl (received both before and after the COVID-19 outbreak in China and the rest of the world) have resumed from our Chinese partner, as their marketing efforts have reinvigorated demand for the product. So far this year, the Group has received orders of over €7 million from this particular partner (compared to only €0.5 million total sales in 2019) f...