
27 July 2021
Love Hemp Group PLC
("Love Hemp" or the "Company")
Trading Update
Love Hemp Group PLC (AQSE: LIFE) (OTCQB: WRHLF), one of the
Financial Highlights
|
FY21 |
FY20 |
Change |
Revenue, £m |
4.31 |
2.69* |
+ 60% |
Number of Units Sold |
188,865 |
54,972* |
+ 244% |
Number of Consumer Accounts |
36,975 |
17,928* |
+ 106% |
Love Hemp delivered significant sales growth during the Period as a result of increasing consumer recognition of its brand, its established online platforms, presence in major retailers and the growing interest in CBD products in the
The Company saw stronger revenue in H1 2021, of
Revenue from the Company's own online channels, lovehemp.com and cbdoilsuk.com, grew 17% in FY21 from FY20, with the number of consumer accounts increasing 106% in FY21 to 36,975. The Company anticipates continued growth in sales from its online channels in line with its move to a subscription based model as well as significant above-the-line marketing campaigns in partnership with Anthony Joshua.
Revenue from third party retailers, including Boots and
Love Hemp's revenue continues to be
Tony Calamita, Chief Executive Officer of Love Hemp Group commented: "The record revenue we have seen in the financial year 2021 is an endorsement of the growing strength and visibility of Love Hemp, which has grown in line with the burgeoning consumer interest in high-quality CBD products in the
Our multi-channel approach to sales resulted in increased online sales and consumer accounts. Our online distribution network and the revenue streams emanating from it are expected to increase significantly in FY22 as we launch new online channel partners, including Amazon.
Love Hemp is well positioned to benefit from the growing consumer appetite for CBD wellness products in the
* Love Hemp Group plc, (formerly World High Life plc) acquired Love Hemp Limited ("LHL") on 18 October 2019. As a result, the Audited Accounts of Love Hemp Group plc for its financial year ended 30 June 2020 do not include LHL's results for the period between 1 July and 18 October 2019. In this announcement, in order to provide a meaningful comparison, the information relating to FY20 is based on LHL's entire Financial Year ended 30 June 2020, not just for its period of ownership by the Company.
-ENDS-
For further information please visit: www.lovehempgroup.com or contact:
Love Hemp Group Andrew Male
Anna Legge Chief Communications Officer |
+44 (0) 7926 397 675 andrew@lovehempgroup.com
+44 (0) 7500 773 415 Anna.legge@lovehempgroup.com
|
Financial Advisor Rupert Fane H&P Advisory Limited
|
+44 (0) 20 7907 8500 rf@hannam.partners
|
AQSE Corporate Advisor Mark Anwyl/Allie Feuerlein Peterhouse Capital Limited
|
+44 (0) 20 7469 0930 ma@peterhousecap.com af@peterhousecap.com |
Financial PR Tim Blythe/Alice McLaren/Madeleine Gordon-Foxwell Blytheweigh
|
+44 (0) 207 138 3204 lovehemp@blytheweigh.com |
About Love Hemp Group
Love Hemp Group is one of the
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