6 January 2022
The British Honey Company plc
("BHC" the "Group" or the "Company")
Trading Update and production site consolidation
BHC is pleased to update the market on the Company's sales performance for the 12 month period to 31 December 2021. The Company ended the year with sales ahead of expectations which are now expected to be not less than
We have also taken the decision to consolidate all elements of production, dispatch and R&D at our Market Harborough distillery, which has ample space and capacity and which can be effectively utilised for the Group. This will produce significant cost savings and enable us to operate in a much more efficient and cost-effective manner at the Market Harborough distillery site. We will still retain and produce the Keepr's brand and product range out of Market Harborough, ensuring we maintain our broad product offering.
This will entail us closing our Worminghall,
Commenting on the update Richard Day, Chairman of BHC, said:
"Our sales fared well in the final quarter of the year, providing good momentum into 2022 and giving us every confidence as we start the new financial year. Demand for our products remains strong and we are making rapid progress in ensuring our operations are more efficient.
"It is essential that we have the right cost base in order to remain competitive as a business and can take advantage of the significant opportunities we are seeing in the market. Therefore, the Board considered now was the right time to consolidate our production, distribution and business operations into our Market Harborough distillery site. We will work with the teams that are affected in the coming weeks to ensure they have the support needed during this transition."
The British Honey Company plc
AQSE Corporate Adviser & Joint Broker
Carl Holmes /
George Dollemore (corporate finance)
Richard Chambers (ECM)
via Walbrook PR Limited (see below)
Tel: +44 (0)20 7220 0500
Stanford Capital Partners -
Patrick Claridge / John Howes /
Tel: +44 (0)20 3650 3650
Walbrook PR Limited -
Paul Vann / Nicholas Johnson
Tel: +44 (0)20 7933 8780
+44 (0)7768 807631
This announcement contains inside information for the purposes of article 7 of the Market Abuse Regulation (596/2014/EU) as it forms part of
About British Honey Company
Launched in 2014, BHC has an extensive collection of award-winning spirits brands. Its impressive range began with Keepr's British Honey Spirits infused with 100% pure British honey and includes gin, rum, bourbon, and vodka.
In 2020 it expanded further after acquiring the brands of the London Distillery Company (Dodd's Organic Gin, Rye and Single Malt Whiskeys), securing an exciting partnership agreement with English Heritage to produce its gins and launching an affordable luxury spirits range, 1606. In the same year, BHC also developed its first alcohol sanitiser product in the
In February 2021, BHC completed the acquisition of Union Distillers Limited, based in Market Harborough,
In addition, Union distils spirits on behalf of a range of B2B customers including some major supermarkets. Like BHC, Union is also SALSA accredited.