Venture Life Group PLC – VLG – Trading update

Venture Life Group PLC – VLG – Trading update

Since the start of the year, Venture Life has made various announcements providing updates on the positive trading that the Company achieved. These have included an order book significantly ahead of that at the same time last year and the signing of an exclusive €168 million agreement with the Company's existing Chinese partner for a number of its products, one of which is Dentyl, with orders in excess of €7 million for delivery in 2020. At the same time, all other areas of the business have traded well and the Company's hand sanitising gel brand (DISINPLUSÔ) is seeing good demand.

In addition, the Company is pleased to announce that it has extended its commercial relationship with Alliance Pharma and has been appointed as a second manufacturer of Alliance's Kelo-Cote products. This is an extension in scope to the existing commercial arrangement between the two companies, which currently runs until the end of 2026. 

Taking these positive developments together, the Company is pleased to announce that it is confident that it will comfortably exceed market expectations for this year.

This announcement contains inside information.

Jerry Randall, CEO of Venture Life said, "I am proud of how the Company has operated through a challenging period and am delighted with our performance this year. I must pay tribute to the dedication of all our employees in the Group, especially those based at Biokosmes in Northern Lombardy, who have not only kept our business operating in very difficult circumstances, but have also continued to grow the business and bring more opportunities into the Group.

"I am also delighted that the team at Alliance have again extended their business relationship with us, and with the confidence and trust they have in us as one of their key strategic suppliers. Biokosmes has been manufacturing products that sit within the Alliance portfolio since 2001, and Alliance are an extremely valued customer of the Venture Life Group."

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