Date: April 29, 2019

Honey Bun (HONBUN) held its Annual General Meeting today, which was hosted by the Company’s Chairman, Mr. Herbert Chong. Mr. Chong, in his opening remarks, highlighted that, “during 2018, Honey Bun’s building capacity was maximized, and a new building is now complete and new equipment have been installed, almost doubling capacity output.” Over J$149 million worth of capital, during the year, was reinvested in the form of assets which was mainly from the new building and investments in equipment. He further mentioned that, “2019 will be focused on sales and marketing to maximize the opportunity it presents.”

The Company’s Chief Executive Officer (CEO), Mrs. Michelle Chong, highlighted that Honey Bun has employed new strategies and marketing tactics. She stated that, “in 2018, a new product was created. The ‘Pocket-Size Rum Cake’ was launched in 3 flavours, that is Original, Coconut and Rum which has started to contribute to export growth and tremendous local interest.”

One of Honey Bun’s strategy comprises of continuous expansion on their capacity, improving efficiency and ongoing investment in technology as a foundation for growth. In addition, the CEO concluded on the note that, “product development in 2019 will be focused on the reduction of sugar in Honey Bun’s products, the use of indigenous ingredients and reduced calories per serving.”

 

The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may effect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.