UltraDEX continues to drive growth at Venture Life

Consumer self-care company Venture Life Group reported unaudited half-year revenue growth of 28% on Wednesday, in a trading update for the six months to June, with revenues totalling £7.8m.

The AIM-traded firm said that on a like for like basis, including a full six months of Periproducts revenues for the first half of 2016, that was growth of 18% over the same time last year.

Periproducts - sold under the brand name UltraDEX UK - recorded its highest month of revenue in June for at least the last five years, Venture Life’s board said.

It also reported a record month in Biokosmes as it recorded its largest ever revenue for a single month in June.

A total of four new deals were signed internationally during the period, including one on UltraDEX.

“The first half of 2017 has shown continued growth and momentum in the business,” said chief executive Jerry Randall.

“The UltraDEX acquisition is now fully integrated and delivering the synergies and profitability expected.

“It is also attracting good interest internationally … [validating] our decision to make the acquisition and also proves the model we have for utilising the good operational leverage that we have which is available for future acquisitions.”

The board reported that June saw the second UltraDEX promotional campaign in the year so far in the UK, which included television advertising and promotions through independent coffee shops, among other activities.

July would also see the launch of the newly-refreshed range of packaging in the company’s major pharmacy partner, along with the launch of the UltraDEX sensitive range and new one litre pack sizes.

Venture Life’s board said there was also confirmation in the first half of the year that store penetration would increase from July, with 1,503 new listings of UltraDEX in stores across the UK with the firm’s major pharmacy partner.

“I am delighted with the continued organic growth of the business in challenging markets and in particular, that we have delivered a record level of sales during June in both Biokosmes, and UltraDEX,” Randall added.