Venture Life sees FY revenue up 16%, profits "at least in line" with market views

Consumer healthcare group Venture Life said on Tuesday that it expects to report a 16% increase in revenue for the year to 31 December, as it announced the departure of chief financial officer Adrian Crockett.

The AIM-listed company expects revenues to have risen to £18.7m from £16.1m the year before, while adjusted earnings before interest, tax, depreciation and amortisation should be "at least in line" with market expectations.

The group - which is due to release its preliminary results for the year in March - said that since its update back in November, there has been further progress with the Dentyl oral care brand in the UK.

Morrisons has confirmed the launch of Dentyl BB Mints in just under 300 stores in the UK. In addition, Dentyl has gained additional distribution across the Superdrug estate.

Venture Life also said that a new variant of UltraDEX has been developed and launched this month - UltraDEX Whitening, with patented technology. It's been launched in Boots and is soon to launch in Sainsbury's, Ocado and Amazon.

Internationally, a long-term deal has been signed on UltraDEX in South Africa. The company's new partner is expected to launch in the first half of this year, bringing the total number of markets partnered to 18 for UltraDEX, including the UK and Ireland.

The company also said on Tuesday that CFO Adrian Crockett has left the business with immediate effect to pursue other opportunities. The process to identify a successor has begun and the group will update the market in due course.

In the interim, Venture Life's operational finance function will be overseen by chief executive Jerry Randall.

Randall said: "I am delighted to see another year of double digit growth for the group, driven by our dual strategy of organic and acquisitive growth. The most recent acquisition, the Dentyl oral care brand, continues to develop in our hands as we integrate this into our business, and these new listings demonstrate the traction our team is achieving with this new brand already."

At 1230 GMT, the shares were up 6.2% to 48.85p.