Founded in 2014 by former software entrepreneur and beekeeper, Michael Williams, BHC produces honey and honey-infused gins and vodkas
(Picture: 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".
