Venture Life has provided a trading update for FY24E, expecting revenues of £51.8m, gross margin of 42% and adjusted EBITDA of approximately £11.3m. Revenues include £0.8m generated by the recently acquired Health & Her (H&H) business, and were below our estimated £52.5m (pre-acquisition), largely as a result of Customer Brands division customer destocking. Gross margin improved, driven by 2H24 margins of c45%, which were supported by improved product mix, while operating cost control was offset ....
