(Alliance News) - British Honey Co PLC on Monday said it expects its 2022 revenue to be lower due to dampened UK consumer spending, as it emphasised on cost control.
The Oxfordshire-based spirits and honey producer said it expects revenue in 2022 to fall by 25% to GBP6 million from GBP8 million in 2021. The company added that this remains within its guidance published in August last year, which anticipated revenue of GBP6 million.
Looking ahead, British Honey said consumer demand is hard to predict and that it implements "rigorous cost control" as a key focus.
"Discussions with potential new customers are encouraging. With the significant cost savings achieved over the past 12 months, the group is now in a much better position to make further progress in the current financial year," the company added.
British Honey shares were flat at 19.00 pence each in London on Monday afternoon.
By Tom Budszus, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.