- Flat first-half revenue of £23.5mn
- Cash profit down from £4.4mn to £3.6mn
- Net debt slashed by 23 per cent to £10.6mn
- Full-year earnings guidance maintained
Investors shouldn’t be concerned by the fall in first-half profits at Aim-traded Venture Life (VLG:44.5p), a developer, manufacturer and distributor of products for the self-care market.
It was caused by the planned decision to ramp up investment in marketing expenditure, the benefits of which are now being seen. Since the start of the year, Venture has achieved 56 new listings, including 24 that will go live in the second half. Moreover, although first-half revenue was flat, it masks some very positive underlying trends. Sales of the group’s own brands increased by 8 per cent to £12.9mn and private-label brands registered 10 per cent growth, albeit this is a much smaller segment.