- 2023 revenue up 17 per cent to £51.4mn
- Adjusted operating profit rises 12 per cent to £3.9mn
- Underlying EPS of 5.2p
- Net debt cut 17 per cent to £13.7mn
Annual results from Aim-traded Venture Life (VLG:37p), a developer, manufacturer and distributor of products for the self-care market, highlight that the group has not only returned to growth, but improving free cash flow (up from £2.8mn to £4.8mn) is reducing debt, too.
A key driver has been enhancing branding and marketing efforts to expand the reach of the group’s owned brands to a broader audience. On a proforma basis, the segment delivered 9.3 per cent like-for-like revenue growth to account for 59 per cent of group revenue. Energy brand Lift was a notable performer, reporting 15 per cent higher revenue and 52 per cent growth in online sales, buoyed by more effective marketing campaigns and pharmacy distribution.