Venture Life Group has reported results for the 12-months to December 2022. As per the recent trading update revenues were £44.0m, up 34.2% YoY. Adjusted EBITDA was ahead of expectations at £9.0m (Cenkos est. £8.7m) and following three acquisitions in FY21A and FY22A, the group closed the year with net debt (ex-leases) of £16.6m. We anticipate continued strong growth for Venture Life, targeting £55.0m of revenues in FY24E, generating £13.2m of adjusted EBITDA. While we expect a period of consoli ....
