Venture Life interim revenues slip as hand sanitiser sales fall

Venture Life expects to report revenues for the six months ended 30 June of £13.8m, less than the £16.8m reported for the first half of 2020 due to "much lower sales" of hand sanitising gel and sales to its Chinese partner.

However, outside of those two revenue streams, Venture Life stated the rest of the business showed an overall growth of 9% over the first half of 2020.

The AIM-listed group said Covid had again had "a heavy impact" but added that it was starting to see "encouraging signs" of a post Covid recovery in retail in the UK especially.

Interim revenues also included a contribution of £1.1m from the acquisition of BBI in early June.

As far as the second half was concerned, Venture Life said it would have "a more meaningful contribution" from new acquisitions, with the business "well placed" to benefit from the UK and global economy's recovery from the impact of Covid-19.

As of 1020 BST, Venture Life shares had slumped 25.10% at 74.53p.