LONDON (ShareCast) - Venture Life, a company focused on developing products for the ageing population, said its revenue for the first half of the year will be in line while it remains confident with the rest of the financial year.
The group signed three long-term distribution deals during the period and four new brands have been launched by partners.
Its Chinese partner Gialen has made its first purchase order of a range of skin-care products and payed €0.52m up front for 50% of the first order. The company said its delivery is dependent on product registration approval in China.

Chief executive Jerry Randall said: "Every part of the business is working well and contributing, and through our investment in new people and plant equipment, we expect to continue this accelerated rate of growth.

"The launch of our products in China, once registration is complete, will mark a significant milestone for the Group, and we look forward to continued growth through further product development, and increased business with both existing and new customers."

Randall added trading is in line with the group's growth expectations and remains optimistic about its second half of the year and beyond.

Panmure analysts gave a 'buy' recommendation and 115p target price in the back of the update which stroke a "confident tone".

"Progress across the business is positive and the opportunity in China will be a significant milestone for the group," the broker added.

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