UK markets closed
  • FTSE 100

    7,032.30
    -46.12 (-0.65%)
     
  • FTSE 250

    22,948.83
    -101.67 (-0.44%)
     
  • AIM

    1,251.11
    +3.84 (+0.31%)
     
  • GBP/EUR

    1.1713
    -0.0024 (-0.20%)
     
  • GBP/USD

    1.3908
    -0.0050 (-0.35%)
     
  • BTC-GBP

    29,606.11
    -314.84 (-1.05%)
     
  • CMC Crypto 200

    955.03
    +5.13 (+0.54%)
     
  • S&P 500

    4,395.26
    -23.89 (-0.54%)
     
  • DOW

    34,935.47
    -149.03 (-0.42%)
     
  • CRUDE OIL

    73.81
    +0.19 (+0.26%)
     
  • GOLD FUTURES

    1,812.50
    -18.70 (-1.02%)
     
  • NIKKEI 225

    27,283.59
    -498.81 (-1.80%)
     
  • HANG SENG

    25,961.03
    -354.27 (-1.35%)
     
  • DAX

    15,544.39
    -96.11 (-0.61%)
     
  • CAC 40

    6,612.76
    -21.01 (-0.32%)
     

Infused spirits-maker The British Honey Company sees revenues surge in first months as listed firm

·1-min read
Founded in 2014 by former software entrepreneur and beekeeper, Michael Williams, BHC produces honey and honey-infused  gins and vodkas (The British Honey Company)
Founded in 2014 by former software entrepreneur and beekeeper, Michael Williams, BHC produces honey and honey-infused gins and vodkas (The British Honey Company)

Infused spirits-maker The British Honey Company has reported seeing revenues surge by 270% to £1.55 million in its first nine months as a listed firm.

The Buckinghamshire-based honey producer, which pivoted spare capacity to hand sanitiser production at the height of the national shortage, raised £4.25 million when it floated on the Aquis Growth Exchange in March 2020 and today has a market cap of around £19 million.

Founded in 2014 by former software entrepreneur and beekeeper, Michael Williams, BHC produces honey, infused gins and vodkas. The firm owns the assets of the London Distillery Company, behind the Kew Gardens spirit brands sold in Waitrose, and in February completed a "transformational" £10 million acquisition of Union Distillers.

BHC said it saw a "big increase in online sales" and expanded further into the US in the nine months to January, and highlighted its cash position of £2.46 million at period end. Gross profits were up to £920,000, and the firm reported a reduced operating loss before exceptional items of £720,000.

The firm will expand into whiskey production later this year and has just released a range aimed at the fast-growing hard seltzer and low alcohol market.

Williams said progress has continued in recent months, and that the full reopening of hospitality will "provide further opportunities for an improved performance by BHC with its considerably expanded product range and manufacturing capacity".

Read More

Vertu Motors ups profit expectations amid used car sales boom

Gear4Music founder-CEO Andrew Wass talks expansion as profits rise

Losses widen at recruiter Staffline

Closing the digital skills gap is key to unlocking London’s recovery

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting