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Venture Life H1 loss narrows YOY

Venture Life Group PLC said its normalized net income for the first half came to a loss of 1 Great British pence per share, compared with a loss of 1 pence per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of £445,000, compared with a loss of £471,880 in the prior-year period.

Total revenue climbed 40.0% year over year to £6.1 million from £4.4 million, and total operating expenses rose 24.9% on an annual basis to £6.5 million from £5.2 million.

Reported net income came to a loss of £1.0 million, or a loss of 3 pence per share, compared to a loss of £925,000, or a loss of 3 pence per share, in the prior-year period.