Love Hemp Q2 Trading Update
LONDON, UK / ACCESSWIRE / February 16, 2021 / World High Life Plc (“World High Life” or the “Company”) (AQSE:LIFE) (OTCQB:WRHLF), is pleased to announce that Love Hemp Limited (“Love Hemp”), a wholly owned subsidiary of World High Life, achieved 2nd quarter unaudited sales (October 1 to December 31), of £1,562,000 ($2,175,000), a 97% increase from Q1 sales of £793,500 ($1,105,000).
The continued rise in sales represents a strong increase in demand during the COVID 19 pandemic across all platforms: Love Hemp, CBDOilsUk.com and wholesale activities via LH Botanicals.
Q2 Highlights (October 1 to December 31)
- £1,562,000 ($2,175,000) in revenue – up 97% compared to Q1 revenue of £793,500 ($1,105,000)
- £764,000 ($1,062,500) in gross profit
- 11% online conversion rate increase compared to Q1 rate of 12%
- Over 69,000 units sold online
- Over 10,500 online customer accounts created
First Half Year (July 1 to December 31)
- £2,355,000 ($3,280,000) in sales
- £1,311,000 ($1,825,500) gross profit
Tony Calamita, CEO of World High Life and Founder and CEO of Love Hemp, commented
“Continuing to aggressively increase our sales across all of the platforms is a testament to the dedication and hard work our teams have put into the Company. We have seen huge growth potential during the pandemic and are pleased to have been able to consistently provide our consumers with high level products and service.
“We continue to keep positioning for future growth and look forward to expanding what is already an exciting and promising business both across the UK and further afield.”
The Directors of the Company accept responsibility for the contents of this announcement.
About Love Hemp
Love Hemp is one of the UK’s leading CBD and Hemp product suppliers and has more than 40 product lines, comprising oils, sprays and vapes and a variety of edible and water-based CBD products. Love Hemp has established relationships with over 1,500 stores in the UK, including leading brands such as Sainsbury’s, Boots, Ocado and Holland & Barrett.
About World High Life
World High Life was established by the founders of Supreme Cannabis (TSX: FIRE), and 1933 Industries (CSE: TGIF), both companies at the forefront of the legalized cannabis industry. LIFE was established to take advantage of the huge opportunities available in the UK and European legal cannabis space, which is set to be the largest in the world within five years.
For further information please contact:
+44 (0) 7926 397 675
AQSE Corporate Adviser
Mark Anwyl/Allie Feuerlein
Peterhouse Capital Limited
+44 (0) 20 7469 0930
+44 (0) 207 318 3205
For more information on World High Life please visit: www.worldhighlife.uk
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information. Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
SOURCE: World High Life PLC
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