April 22, 2024

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Love Hemp reveals jump in revenues as it hails ‘burgeoning CBD wellness sector’

3 min read

The business sells a range of over 40 products including CBD oils, capsules and edibles online and in retailers such as Holland & Barrett, Boots, Ocado and Sainsbury’s.

Revenues in the year ended 30 June 2021 rose to £4.3 million, compared with £2.7 million in the prior 12 months, and gross profits totalled £1.3 million. Revenue from major retailers including Boots and Holland & Barrett increased 65{b574a629d83ad7698d9c0ca2d3a10ad895e8e51aa97c347fc42e9508f0e4325d} in November 2021 compared to the average monthly revenue from retailers in the previous 10 months.

Love Hemp is listed on the UK’s Aquis Exchange but said its plans to move to the main market of the London Stock Exchange are “progressing well”. It has acquired new premises with capacity to manufacture up to 500,000 units of CBD products monthly.

Love Hemp sells broad-spectrum (which offers all the entourage benefits associated with full-spectrum CBD, without any chances of THC being ingested) CBD jelly domes and CBD dark chocolate balls.

‘Edibles offer a convenient way for consumers to ingest CBD’

The company told FoodNavigator the edibles format allows its customers to satisfy their sweet tooth whilst getting a daily dose of CBD.

“CBD edibles provide all the wellness-promoting benefits of CBD in a tasty, on-the-go format,”​ it said. “If you are new to CBD, edibles could be a great place to start, offering an easy way to track and tailor your CBD consumption to suit your needs and tolerance level.”

It added CBD-infused edibles typically take longer to kick in as they take time to metabolise, as opposed to CBD oil which will enter your system straight away if you take it sublingually, or under the tongue.

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