Vita Life Sciences (ASX: $VLS) FY23 Financial Performance

Vita Life Sciences Limited (ASX: $VLS) has reported a 19% increase in net assets to $43.3 million for the financial year ended 31 December 2023. The Group's net assets included cash of $24.6 million with no borrowings. The company's dividend for FY 2023 is 9 cents per share, marking the 14th consecutive year of dividend payments to shareholders. The final dividend equates to a 53% dividend to profit after tax ratio and is in line with the Directors' dividend policy. The record date for the final dividend will be 25 March 2024 with payment due on 12 April 2024. The last date to purchase shares and be eligible for the dividend is 21 March 2024.

Executive Commentary on Financial Performance

The financial achievement demonstrates the Company's ability to navigate dynamic market landscapes, whilst consistently generating positive outcomes for Shareholders. The Group's net assets increased by 19% to $43.3 million, reflecting well-managed cashflow and capital. The 14th consecutive year of dividend payments to shareholders underscores the Company's commitment to delivering value to its investors.

Summary of Financial Performance and Outlook

Vita Life Sciences (ASX: $VLS) has delivered a strong financial performance for FY23, with a 19% increase in net assets to $43.3 million. The Group's ability to navigate dynamic market landscapes and consistently generate positive outcomes for shareholders is evident in the record revenue of $74.1 million, up 10.9% on the previous corresponding period. The Company's dividend for FY 2023, at 9 cents per share, reflects a 53% dividend to profit after tax ratio and marks the 14th consecutive year of dividend payments to shareholders. The outlook remains positive, with the Group's increased marketing and retailer support investments aligning with its commitment to drive brand awareness and continued revenue growth. Overall trading conditions were buoyant, and the Company's ability to attract new retail partners and consumers across all markets bodes well for its future performance.