Voyager Life PLC - Perth, Scotland-based supplier of cannabidiol and hemp seed oil products - Posts maiden loss for 17 month period after its initial public offering in summer 2021. Pretax loss for the period from November 2020 to March 31, 2022 stands at GBP801,000. Reports revenue of GBP178,000. Administrative expenses are GBP797,000. Says IPO associated costs are GBP106,000.
"The directors recognise that, although growing strongly, the cannabidiol market in the UK and overseas remains highly competitive and, furthermore, that the competition is not always on a level playing field with several companies continuing to sell what the directors believe are sub-standard products and make unsubstantiated health claims. The confusion caused by the delayed publication of the Food Standards Agency's list of CBD companies that it validated under the novel foods regulations has created further challenges," says Chief Executive Officer Nick Tulloch. He adds that directors believe the cannabidiol supplier will thrive in the long term.
Voyager Life had its IPO on the Aquis Stock Exchange in June 2021.
Current stock price: 13.5 pence
By Tom Budszus; tombudszus@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.