Voyager Life PLC (AQSE:VOY) plans to build on the progress made in the first 14 months since listing - a period of rapid expansion coupled with tight cost control.
Looking ahead, the group, which is a specialist in cannabidiol and hemp-based health and wellness products, said it will embark on targeted campaigns through social media and affiliate marketing to further boost online sales.
It is also gearing up to expand its network of trade partners and will develop its own stores through local events, its growing product range and the introduction of guest brands.
In the company’s preliminary results statement, the group said it wanted to establish its VoyagerCann manufacturing operation ‘as a trusted partner' for the CBD and hemp industry.
For the period ended March 31, the group generated revenues of £178,000 and posted an operating loss of £679,000. Importantly, it managed its cash tightly and had £1.17mln in the bank as of August 12.
The company now has four revenue lines (online, own stores, third party stores, private label and white label), two brands (Voyager and Ascend Skincare) and 53 individual products.
“We are building a brand and that will take time but our foundations of integrity and impeccable service are resonating with customers,” said chief executive Nick Tulloch.
"Our share price remains a frustration - at current levels, we trade not far from our cash level and at a discount to our net assets - but our morale is high and we are confident that the successes we are seeing day to day in our business will in time translate into recognition by investors."