World High Life PLC Announces Annual Financial Report

Rhea-AI Summary

World High Life PLC has released its audited annual results for the year ending June 30, 2020, demonstrating notable achievements amidst a challenging environment. Highlights include a successful US OTC Market listing, significant growth in online sales (up 57% from June 2020), and the launch of Buzz Leaf CBD. The company's subsidiary, Love Hemp, expanded its manufacturing capabilities and received ISO 9001:2015 certification. A new facility construction is underway, further showcasing growth potential as the company advances into 2021.

Positive

• Successful listing of shares on the US OTC Market.
• 57% increase in online sales in July 2020 vs June 2020.
• ISO 9001:2015 certification achieved by Love Hemp.
• Launch of new ecommerce site for Love Hemp.
• Construction of a new 13,500 sq ft facility has commenced.

Negative

• None.

Audited Results for the year ended 30 June 2020

LONDON, UK / ACCESSWIRE / December 7, 2020 / World High Life PLC, the AQSE listed investment company with a focus on developing business opportunities in the regulated cannabis industry in Europe, is pleased to announce its audited annual results for the year ended 30 June 2020.

The Directors of World High Life are also pleased to provide an update on progress and the focus of the Company advancing into 2021.

Acting Chairman's Statement

The Directors of World High Life are pleased to provide an update on progress, recognising that in challenging global business environments the Company, along with its wholly owned subsidiary, Love Hemp Limited ("Love Hemp"), has achieved significant milestones, which include:

• Successful listing of shares in North America on the US OTC Market
• Increased manufacturing infrastructure of LH Botanicals, Love Hemp's wholesale, bulk and white label business
• Appointment of Scientific Advisors
• Launch of new ecommerce site for Love Hemp's global online retailer, CBDOILs UK at www.cbdoilsuk.com
• ISO 9001:2015 certification achieved by Love Hemp
• Commencement of construction on Love Hemp's 13,500 sq ft new facility
• Launch of new consumer brand, Buzz Leaf CBD, for 21-34 demographic
• Achieved significant sales growth online during the COVID 19 pandemic, with month over month gains including a 57% increase in sales in July 2020, compared to June 2020, building off growth in May 2020 where online sales were 107% higher than in January 2020

Click on, or paste the following link into your web browser, to view the full announcement.

http://www.rns-pdf.londonstockexchange.com/rns/7268H_1-2020-12-7.pdf

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: World High Life PLC

View source version on accesswire.com:
https://www.accesswire.com/619736/World-High-Life-PLC-Announces-Annual-Financial-Report

FAQ

What were the key highlights from World High Life PLC's financial report for the year ended June 30, 2020?

World High Life PLC highlighted a successful US OTC Market listing, a 57% increase in online sales in July 2020, and the launch of Buzz Leaf CBD, among other achievements.

How much did online sales increase for Love Hemp during the pandemic?

Online sales for Love Hemp increased by 57% in July 2020 compared to June 2020, building on a 107% increase from January 2020.

What certifications did Love Hemp achieve?

Love Hemp achieved ISO 9001:2015 certification, indicating high quality management standards.

What is the significance of the new ecommerce site launched by Love Hemp?

The new ecommerce site allows Love Hemp to enhance its online presence and cater to global consumers effectively.