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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 £6 million from £8 million in 2021. The company added that this remains within its guidance published in August last year, which anticipated revenue of £6 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.
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