Business
Trading Update & Board Changes
Trading Update & Board Changes.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 1201U\n Venture Life Group PLC\n 01 December 2021\n \n \n \n \n 1 December 2021\n \n \n \n \n \n VENTURE LIFE GROUP PLC\n \n \n (\"Venture Life\", \"Group\" or the \"Company\")\n \n \n Trading Update & Board Changes\n \n Venture Life (AIM: VLG), a leader in developing, manufacturing and commercialising products for the self-care market, provides the following update on trading and details of Board changes.\n Trading update\n Some of the themes that were referenced in the Company's Interim Results, announced on 23 September 2021, have continued. The integration of BBI Healthcare, the Company's largest ever acquisition, remains on track and the Directors are pleased with the progress that has been made. The Helsinn Integrative Care Portfolio, acquired in August this year, has also performed in line with management's expectations and is further evidence of the Company's skill in identifying and executing acquisitions well.\n More specifically, through BBI Healthcare brands, evaluation is underway at both Savers and Co-op on Balance Activ. Also, given the success that Balance Active has had on the Amazon platform in the UK, plans are underway to launch the brand in Germany on Amazon, which is expected to take place in Q1 2022. \n In the Interim Results, reference was made to some of the challenges that the Group had been experiencing. These challenges persist; the ongoing impact of COVID continues to affect confidence across many markets, with some customers choosing to reduce inventory, rather than place new orders, and also to delay orders at short notice. The industry continues to experience increased input prices, not all of which can be passed on to customers immediately, along with supply shortages for some components, and the well publicised issues with truck availability / pricing have created additional uncertainty surrounding logistics. The Company's Chinese partner has continued to disappoint against expected levels of sales and, as a result, the Company is exploring alternative opportunities to ensure that sales in China are maximised in 2022 and beyond.\n The Company continues to await the publication of the peer-reviewed in vivo study carried out by Cardiff University, which was completed in April this year. Whilst the Board is disappointed that this has taken l...