12 October 2021
Voyager Life plc
("Voyager" or the "Company")
Trading Update, Grant of Options & Notice of Half-year Results
Voyager, the health and wellness company supplying high-quality Cannabidiol (CBD), hemp seed oil and hemp-related products, is pleased to provide a trading update on its operations, notification of a grant of share options and notice of its first half-year results for the six months ended 30 September 2021.
· 32 formulated products and 90 total SKUs available across website and stores
· Revenue from incorporation to 30 September 2021 of approximately
· Cash balance of approximately
· Monthly overheads of below
· Inventory of over
· Voyager products now sold in 80 third party stores
· Voyager products will be listed by CLF, a leading wholesaler
· Forthcoming store openings in
Nick Tulloch, Chief Executive Officer and Founder of Voyager, said: "Our focus during the first half of the 2021 calendar year was to establish a solid platform for Voyager, developing our product range and building the team, and of course complete our IPO. The effort we put in during those months is now showing in the positive transformation of our business over the summer.
"In May of this year, almost 100% of our revenue came from online sales but, with the opening of our first store in
"The speed of take up by other retailers supports our view on the quality of our brand and products and CLF's decision to stock our products in particular is not only further vindication of our business model but should mark another significant step up in the volumes of our sales."
The period to 30 September 2021 saw Voyager list on Aquis Stock Exchange Growth Market, expand its sales from entirely online to a multi-retail strategy having developed and launched several new product lines. The Company's strategy is to outsource its manufacturing and focus on formulations and branding which the Directors believe is the higher margin part of the industry. By not investing in capital equipment and manufacturing premises, Voyager keeps its cost base low. Through the strength of Voyager's relationships with its suppliers, the Company has been able to develop new products on low production volumes while maintaining a full inventory of product lines without committing extensive working capital.
During the past four months, the Company has concentrated on developing a network of stores that stock its products, including opening its first Voyager store in
CLF are one of the leading wholesalers in the
Voyager's own store rollout has been supported by the development of a considerably enhanced product range, supplementing its 32 formulated products with a total of 90 SKUs (stock keeping unit), including certain guest brands. Not only does this improve the shopping experience for its customers but it also enables the Company to stock products that are exclusive to its stores.
Objectives in the coming months include:
· A relaunch and upgrade of Voyager's website, coupled with targeted social media and advertising campaigns
· Continued development of its network of trade partners
· Opening its store in
Voyager maintains a strong balance sheet with cash and inventory totalling almost
Monthly overheads exclude all product manufacturing, marketing and delivery costs. Following the opening of the new stores in
Following its recent success at Glee, the Scottish Game Fair and the National Health Trade Summit, Voyager's next trade fair will be Professional Beauty London at the Excel Centre on 17 and 18 October 2021.
Grant of share options
On 11 October 2021, Voyager granted a total of 70,800 share options under its EMI share option plan (the "EMI Plan") to employees who joined the Company in the past three months. The share options are exercisable at
Voyager expects to announce its interim results for the period ended 30 September 2021 during the second half of November 2021.
Financial information included in this announcement has not been audited.
This announcement contains inside information for the purposes of the
Nick Tulloch - email@example.com / 01738 505 130
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Liam Murray or Ludovico Lazzaretti +44 (0) 20 72130 880
Notes to Editors:
Voyager was founded in 2020 and is based in
In line with
Website and social media links:
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identiﬁed by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reﬂect the Directors' current beliefs and assumptions and are based on information currently available to the Directors