Venn Life Sciences Holdings (VENN)

Sector:

Health Care

Index:

FTSE AIM All-Share

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 5.65p
   
  • Change Today:
      0.000p
  • 52 Week High: 15.25
  • 52 Week Low: 5.25
  • Currency: UK Pounds
  • Shares Issued: 71.40m
  • Volume: 0
  • Market Cap: £4.03m
  • Beta: 0.00

Venn Life Sciences trades in line as it looks to future strategy

By Josh White

Date: Thursday 15 Feb 2018

LONDON (ShareCast) - (ShareCast News) - Integrated drug development company Venn Life Sciences issued a trading and strategy update on Thursday, with the board describing 2017 as "another solid year".
The AIM-traded firm delivered revenues of €17.8m - down from €18.2m and broadly in line with market expectations, along with improved EBITDA performance and a closing cash position of €1.2m, down from €3.4m.

Given the headwind from project deferrals as it announced at the half year, the board said it believed the outcome reflected solid progress in the business.

Additionally, it said 2017 represented a transition year for Venn, during which significant investment was made in infrastructure, systems, governance and management, in order to have the ability to access higher value customer markets.

On the subject of strategy, Venn's board noted that up until 2016 the business delivered strong growth, largely through an acquisition-driven model.

However, highly-regulated customers typically demanded the highest standards of governance and integrated operational systems.

"Therefore, since 2016, the board has prioritised organic growth while concentrating on business integration, optimising the cost base and implementing the systems and structures demanded by those customers it seeks to engage with," Venn's board explained.

It said that, with the operational foundations for a larger business already laid, it had conducted a strategic review of the business and the sources of future growth.

"The board has concluded that, in order to maximise operational leverage in the business, it makes sense to focus on both organic and inorganic revenue growth in the near term.

"To drive organic growth the board is increasing the business development team and in assessing the suitability of inorganic opportunities, intends to prioritise both geographic and service line extension in the late phase part of Venn's business," it explained.

"Improved future profitability will therefore be delivered primarily through more aggressive revenue growth and efficient project execution, which we believe Venn now has the systems and infrastructure to deliver."

The board made a "firm commitment" to the adjustment in strategy, and said it would commit the necessary talent and resources to achieve it.

"We see the recent appointment of Cenkos Securities, which has specific CRO industry expertise, as a strong indication of our intent and we look forward to working with the team there to identify and execute shareholder value-enhancing opportunities."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

VENN Market Data

Currency UK Pounds
Share Price 5.65p
Change Today 0.000p
% Change 0.00 %
52 Week High 15.25
52 Week Low 5.25
Volume 0
Shares Issued 71.40m
Market Cap £4.03m
Beta 0.00

VENN Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
67.69% above the market average67.69% above the market average67.69% above the market average67.69% above the market average67.69% above the market average
88.24% above the sector average88.24% above the sector average88.24% above the sector average88.24% above the sector average88.24% above the sector average
Price Trend
91.24% below the market average91.24% below the market average91.24% below the market average91.24% below the market average91.24% below the market average
88.57% below the sector average88.57% below the sector average88.57% below the sector average88.57% below the sector average88.57% below the sector average
Income Not Available
Growth
16.17% above the market average16.17% above the market average16.17% above the market average16.17% above the market average16.17% above the market average
27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average27.27% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 1
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

VENN Dividends

No dividends found

Trades for --2018

Time Volume / Share Price
0 @ 0.000p

VENN Key Personnel

CEO Anthony (Tony) Francis Richardson
Chair Allan Wood
COO Christian Bernard Milla

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