Scottish cannabidiol firm hails record takings at stores in Dundee, Edinburgh and St Andrews
Voyager Life, the Scottish CBD health and wellness business, has seen record takings from its stores in Dundee, Edinburgh and St Andrews.
The fledgling firm made the revelation as it reported full-year results and highlighted a strong balance sheet, growing distribution capability and an expanding product range.
Voyager was founded by Nick Tulloch, former chief executive of Zoetic International, the first CBD - cannabidiol - company listed on the London Stock Exchange.
The Perth-based firm has a growing range of CBD and hemp seed oil products, including oils, “gummies” for oral consumption, and bath and skincare products.
Tulloch said: “In a little over 12 months since our listing on Aquis, we have one of the largest product ranges amongst UK CBD companies, opened three stores and established our reputation in the industry as a trusted and reliable partner.
“As I have said before, it is our financial performance on which we expect to be judged. In spite of our rapid expansion, we have kept a tight rein on costs as revenue has developed considerably over the year.
“We are still near the beginning of our story but we have a strong balance sheet, a growing distribution capability across a number of different categories and a wide product range to attract different customers.
The firm generated revenue of £178,000 and has total assets of £2.3 million and net assets of £1.6m. It has also established its own manufacturing division - VoyagerCann.
Tulloch added: “Our share price remains a frustration - at current levels we trade not far from our cash level and at a discount to our net assets - but our morale is high and we are confident that the successes we are seeing day to day in our business will in time translate into recognition by investors.
“Prospective customers are now beginning to seek us out, rather than the other way around. We are building a brand and that will take time but our foundations of integrity and impeccable service are resonating with customers.”