British Honey Company plc

AQSE Growth Market (Marker: BM) -
(Suspended)
The British Honey Company is a UK based producer of spirits, honey and jams. It began trading in November 2014, initially focused on honey production and, later, expanding into honey infused spirits. The Company produces a range of honey products and spirits including gin, vodka, rum and whiskey, many of which have won awards in the UK and abroad. These products are produced and stored in the Company’s facilities in Worminghall Buckinghamshire.

The Company has invested significantly in its infrastructure which provides it with a scalable platform including a fully operational distillery with an electronic, computer-controlled, 1,000-litre capacity still and a bottling facility capable of processing the equivalent of approximately 1.5 million bottles a year. Further, the Company has developed proprietary software to manage the manufacturing process and sales which allows the Company to trace single ingredients through to individual bottles of spirits or jars of honey. This approach has earned the Company accreditations from the Soil Association, for organic food certification, and from SALSA, for food safety.

The Directors plan to expand operations through organic growth and acquisition both in the UK and overseas.

Symbol Ccy Code Bid Ask Share Price (Mid) Previous Close Volume Last Traded
BHC GBX 34 37 35.5 35.5 13600 29.06.22

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Key Information

  
Market Cap: £6,092,771
ISIN:GB00BL4Q0333
Par:0.1
Inst Type:Ordinaries
Symbol:BHC
MIFID Status:MTF
Tradable securities in issue:17,162,735
Sector:Beverages
% daily price change:0.00%

Latest Trades

Date & Time Volume Price
29.06.22  |  16:00:031360026
28.06.22  |  13:42:182800026
24.06.22  |  09:53:23860030
20.06.22  |  09:35:025515026
14.06.22  |  16:15:53112736
07.06.22  |  12:32:5220036
31.05.22  |  12:37:2810000026
27.05.22  |  14:46:5011428030
27.05.22  |  14:46:5011428030
24.05.22  |  09:20:51100049

Financial Information

Performance

Earnings per share of -12.95p for 12/2020 has grown from -32.17p in 03/2019 or 60% over the period. Looking at this trend over the last 3 reported periods earnings are showing a growth.

Earnings per share   % growth (1)
   
 03/202032%
 12/2020-69%
   
Average over 3 periods+-37%
Strength in EPS trend ±
Low
High

(1) % growth is year on year % change in EPS.

Basic earnings per share are earnings from continuing and discontinued operations that are attributable to current equity holders.

Business Insight

Costs to Revenues ratio of 1.2 in 12/2020 has improved from 2.1 in 03/2019. Revenues over the period have increased at a faster pace than the Operating costs have increased.

Cost to Revenue ratio (2)   Multiple to Revenue
   
 03/20192.1x
 03/20202.4x
 12/20201.2x
   
Average multiple over 3 periods+1.7x
Strength of cost to revenue relationship ±
Low
High

(2) Costs include selling and admin, depreciation, amortisation and other operating costs.

Valuation

Financial Metric
Price multiple to metric
Relationship strength between metric and share price ±
  
EBITDA-13.6x
EBIT-11.1x
NI-9.2x
FCF-7.3x
DPS-
Assets2.1x
CE2.3x

The Relationship Strength is statistical measure of how close the data is to a line of best-fit line between share price and the metric shown. It is scaled between zero (no relationship) and 5 (strong relationship).

In this case Total Assets has the strongest relationship to share price, with the company's Market Capital value at 2.1x Total Assets.

+ In cases of change in accounting period length, the average is for the last 3 periods. In all cases, it is dependent on published available data and may be for periods shorter than 3 years

± The ‘Strength’ bar shows the strength of the statistical linear relationship of the metrics shown in the chart over the last three periods of data.

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All data provided by Fregnan.

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All data provided by Fregnan.

Last results date:     31.12.20
Enterprise Value £11.14m
EV/EBITDA (13.55)
EV/EBIT (11.05)
   
PE Ratio (9.03)
PEG 232.51%
Dividend Yield -
Free Cash Yield (13.96)%

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All data provided by Fregnan.

31.03.19
(£)
31.03.20
(£)
31.12.20
(£)
Income Statement      
Revenue 558,378634,5621,547,066
Operating Income (EBIT) (907,265)(1,272,567)(1,009,024)
Net Income (903,759)(1,962,879)(1,215,340)
       
Balance Sheet      
Cash 499,9594,033,5592,458,244
Total Debt 62,576164,463156,125
Total Liabilities 238,969582,438574,611
Total Equity 1,363,2755,288,9814,787,584
       
Operating Margin (162.48)%(200.54)%(65.22)%
EPS - Basic (32.17)p(42.33)p(12.95)p
EPS - Growth (39.13)%31.59%(69.40)%
Dividend Per Share ---
Average Shares Outstanding 2.81m4.64m9.38m
       
ROA (91.08%)(52.53%)(21.64%)
ROCE (109.08%)(37.28%)(19.57%)
ROE (112.67%)(59.01%)(24.12%)

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All data provided by Fregnan.

31.03.19
(£)
31.03.20
(£)
31.12.20
(£)
Revenue 558,378634,5621,547,066
Cost of Revenue 320,456369,502630,573
Depreciation & Amortisation 197,562205,864186,589
Gross Profit 40,36059,196729,904
Other Operating Expenses 947,6251,331,7631,738,928
Operating Income (EBIT) (907,265)(1,272,567)(1,009,024)
Net Interest Expense 2,2454,6653,509
Unusual Expense (incl. Exceptionals) -654,006-
Non-Operating Expense (34,647)(31,641)(207,236)
Profit (pre-tax) (944,157)(1,962,879)(1,219,769)
Taxation 40,398-4,429
Other Expenses and Minortity Interest ---
Net Income (903,759)(1,962,879)(1,215,340)

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All data provided by Fregnan.

31.03.19
(£)
31.03.20
(£)
31.12.20
(£)
Cash from Operations (590,393)(1,647,382)(1,280,769)
Cash from Investing (718,684)(294,853)(286,208)
Cash from Financing 1,727,6525,475,835(8,338)
Other Miscellaneous ---
Net Cash Flow 418,5753,533,600(1,575,315)

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All data provided by Fregnan.

31.03.19
(£)
31.03.20
(£)
31.12.20
(£)
Current Assets 987,5474,861,9143,785,249
Non-Current Assets 614,6971,009,5051,576,946
Total Assets 1,602,2445,871,4195,362,195
Current Liabilities 184,300462,839457,302
Non-Current Liabilities 54,669119,599117,309
Total Liabilities 238,969582,438574,611
Net Assets 1,363,2755,288,9814,787,584
Total Equity 1,363,2755,288,9814,787,584

Click here to download a glossary of terms.

All data provided by Fregnan.

Address

Business Address

British Honey Company plc, 32 Wornal Park, Menmarsh Road, Worminghall, Aylesbury, Buckinghamshire , HP18 9PH, United Kingdom.

Email: info@britishhoney.com

Phone: 01993 880597

Registered Address

British Honey Company plc, 32 Wornal Park, Menmarsh Road, Worminghall, Aylesbury, Buckinghamshire, HP18 9PH, United Kingdom.

Contacts

Corporate Adviser

finnCap Ltd., One Bartholomew, Barts Square , London, United Kingdom.

Email: corporatefinance@finncap.com

Phone: 0207 220 0500

Registrar

Neville Registrars Limited , Neville House,Steelpark Road, Halesowen, West Midlands, B62 8HD, United Kingdom.

Email: info@nevilleregistrars.co.uk

Phone: +44 (0) 121 585 1131

Research


There is no research available.