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Venture Life Group confident in future as sales momentum grows

Last updated: 07:19 25 Mar 2015 GMT, First published: 08:19 25 Mar 2015 GMT

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Venture Life Group (LON:VLG) chief executive Jerry Randall is confident for the group’s future, as sales momentum is leading to profitable growth.

In the twelve months to December 31, a period which brought the acquisition of the Biokosmes unit, the group increased revenues to £7.2mln from £0.49mln, and gross profit rose to £2.7mln from £0.19mln.

It reported a £0.59mln loss – before tax, amortisation and exceptional costs – compared to a £0.96mln in the prior year.

VLG ended the year with £4.9mln of cash, after raising £8.2mln and floating on AIM during the period.

In terms of commercial highlights VLG saw seven new product registrations and it added eight new customer products. The company continued to seal new distribution deals, both during and after the reporting period, and it has also been strengthening its commercial team.

"With the acquisition of Biokosmes and listing on AIM, our focus in 2014 was to structure the business to deliver sustainable and strong long term growth,” Randall said in a statement.

“The agreements we have entered into more recently demonstrate the sales momentum we are now building to deliver profitable growth. Consequently, the board remains confident in the prospects of the group."

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