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The results certainly read well on first look, with 5.21p adjusted EPS, net debt falling nicely, selling prices across key VLG brands in UK retail increased by almost 10% this year and a very bullish outlook:
"I am delighted to announce another successful year for Venture Life Group, marked by significant commercial achievements and strengthened financial positions. Our strategic emphasis on organic growth and cash generation led to a faster reduction in net debt despite challenging market conditions. We have made notable inroads in new product development, resulting in increased revenue and showcasing our innovative in-house R&D capabilities. Furthermore, enhanced branding and marketing efforts have expanded the reach of our 9 key brands to a broader global audience, further propelling our growth trajectory. With a strong commitment to improving EBITDA margins, successful new product launches, and digital transformation initiatives, we are well-positioned for sustained success in 2024 and beyond."
It appears as though all figures are slightly ahead of forecast, accompanied by a very bullish outlook statement from the board. What more can you ask for?
It’s a strong buy a reckon
Particularly like these……
· 5+ new key VLG brand products in the pipeline, ready for launch across 2024
· Group net leverage7 reduced further to 1.15x at 31 March 2024
“Ready” for launch would suggest inside the next 3 or 4 months which if correct, would therefore impact 2024 bottom line significantly.
Encouraging results (again) and the share price drops (again). Why is this company so unloved? Very frustrating.
Unhooked, suspect this is just the unwind of yesterdays rise. a relatively large number of people trying to take advantage of any early mark up we all expected to see based on the TU, in the end the MMs have seen them coming.
It matters more what happens in the next few weeks - will the small cap funds that still exist coming knocking?
Yes, I noticed yesterday's rise. Leaky, leaky!
You're more forgiving than I am Jatw - after all, the sp was over 40p a year ago and again just two months ago.
Certainly hope those small cap funds shove some money VLG's way as it's been a frustrating wait.
I expected this to move into the 40’s… I must be missing something in the detail of the results.
It’s only been an hours trading!
The Results are as good as the Trading Update indicated. No nasty surprises at all. I wouldn’t have thought 40p+ is too far into the future.
Good results, perhaps people expected more information on outlook?
Today's price movement is just traders in and out from yesterday.
Will need additional fresh buyers to get this into the 40p's IMO. I reckon this will happen over next 2 weeks.
Simon Thompson in Investors Chronicle is a fan and regularly reviews and tips this as a buy.
Debt reduced further in 2024
Group net leverage7 reduction to 1.30x (2022: 1.65x).
Group net leverage7 reduced further to 1.15x at 31 March 2024
This looks very lucrative
Starting from 2024, a new revenue segment called Private label will be introduced to the Group, referring to products manufactured by VLG-owned factories, which develop formulations for retailers, who will sell these products through their own retail channels. This is aimed at providing a more comprehensive understanding of our business performance by segregating these revenues from the currently reported segments. As revenue from this segment grows, the Group will consider reporting and disclosing performance separately in future periods.
Customer Brands refers to products manufactured by VLG-owned factories, which co-develop formulations with customers, who will distribute and market these products under their own brand names
True!!
I think my comments are slightly borne out of frustration with the market.
Of my shares this, MFX and IPF have all reported great results recently and yet the shares, despite being on lowly valuations are all still trading at the same price.