Venture Life Group (LON:VLG ) has hailed its ‘positive developments’ in a trading update since the start of the year and said it is confident the group will comfortably exceed market expectations for 2020.
The consumer healthcare manufacturer said it has witnessed positive trading so far this year while successfully operating through the challenging coronavirus crisis.
In April, Venture Life signed an exclusive 15 year €168m agreement with its existing Chinese partner for a number of its products - including its Dentyl oral product - with orders in excess of €7m for delivery in 2020.
The group also reported an order book ‘significantly ahead of that at the same time last year’ while the business in general has traded well, including the company’s hand sanitising gel brand, DISINPLUSÔ, which continues to see good demand, the group said.
Shares in Venture Life Group are up 7% following the trading update.
As a result of these positive developments since the beginning of the year, the company said that ‘it is confident that it will comfortably exceed market expectations for this year.’
“I am proud of how the Company has operated through a challenging period and am delighted with our performance this year,” said Jerry Randall, Chief Executive of Venture Life.
Meanwhile, the group also announced that it has extended its commercial relationship with Alliance Pharma and has been appointed as a second manufacturer of Alliance's Kelo-Cote products.
This is an extension in scope to the existing commercial arrangement between the two companies, which currently runs until the end of 2026, this morning’s statement outlined.
“Biokosmes has been manufacturing products that sit within the Alliance portfolio since 2001, and Alliance are an extremely valued customer of the Venture Life Group,” said Randall.
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