|
Venture Life Group PLC on Tuesday said it has a high level of confidence that it is well positioned to achieve its growth objectives, as it extended its current financial year by five months. The Berkshire, England-based developer and manufacturer for the consumer self-care market said adjusted pretax profit surged to £800,000 in the first half of 2025 from £100,000 a year ago. Statutory pretax loss widened to £2.0 million from £1.4 million. Revenue climbed 43% to £15.4 million from £10.8 million, but cost of sales increased 38% to £8.7 million from £6.3 million and administrative costs were 56% higher at £7.1 million from £4.5 million. Venture Life also Tuesday announced a share buyback programme, starting immediately. It seeks to buy back up to 12.8 million shares, about 10% of the existing issued share capital, completing this by July 31, 2026. Venture Life said: ‘The group has continued to prioritise investment in organic growth, focusing on strengthening both team capabilities and ensuring sufficient funding for marketing activities, particularly for its Power Brands. Trading on a proforma basis during the third quarter has been robust, with further uplift achieved compared to the previous year. UK revenues remain a key driver, contributing to an improved rate of topline growth.’ It also said on Tuesday it is extending its financial year-end to May 31, effective immediately. This was ‘to better reflect the group’s revised strategic direction, which was introduced earlier in the year, and with the aim of reducing revenue seasonality and managing specific operating costs with greater efficiency’. Venture Life continued: ‘With these initiatives underway and acknowledging the current period of transition, the board holds a high level of confidence that the group is well-positioned to achieve its growth objectives. The board believes that the additional investments being made will underpin strong future growth, and as such, is confident in meeting management’s expectations for the 17-month period ending 31 May 2026.’ Venture Life shares rose 1.4% to 55.75 pence each on Tuesday afternoon in London. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
