In a trading update released this morning, the spirit producer British Honey Company (BHC ) said it finished the 12 month period to 31 December 2021 with sales ahead of expectations.

The AQSE-listed company, which is a UK-based producer of spirits, honey and jams, said sales for the period are now expected to be not less than £8.4m for Group trading as a whole. 

In its statement, the Company told investors that it has ‘good visibility’ of production orders for the start of 2022 and that it is encouraged by its order book for the first quarter and beyond.

It told investors that it will consolidate all elements of production, dispatch and R&D at its Market Harborough distillery, which the Group stated has ‘ample space and capacity.’

It said using this space will produce significant cost savings and enable the group to operate ‘in a much more efficient and cost-effective manner’ at the Market Harborough distillery site.

The Group confirmed to investors that it will still retain and produce its Keepr's brand and product range out of Market Harborough, ensuring it maintains a broad product offering.

The Company said the process will entail closing its Worminghall, Buckinghamshire office and distillery once the production transfer has completed. However, it outlined that the closure costs are not expected to have any material adverse impact on expected revenues for 2022.

Launched in 2014, British Honey Company’s ‘Keepr's British Honey Spirits’ brand infuses spirits with 100% pure British honey and includes gin, rum, bourbon, and vodka.

Commenting on this morning’s trading update Chairman, Richard Day, stated: "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.”

He said: "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.”

He said the Board considers now the right time to consolidate its production, distribution and business operations into the Market Harborough distillery site and that BHC will work with its teams in the coming weeks “to ensure they have the support needed during this transition." 

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