Honey Bun growth continues despite pandemic

By Sashell Williams

Honey Bun is on track to top 40% growth in exports this year. Speaking during Mayberry’s Investors’ Forum this week, CEO Michelle Chong said exports have continued to grow despite the impact of COVID-19 on the global markets.

“With the efforts and new products that we have [and] the products that we’ve developed for export, particularly our pocket rum cake, we’ve seen exports continue to grow,” she said.

Honey Bun CEO Michelle Chong speaking during Mayberry Investment’s Weekly Investors’ Forum

The CEO said that the company is also expected to record an overall increase in growth, despite hits to the tourism and school sectors, which presents a large portion of local sales.

“We’ve just had to find innovative ways to be able to provide that service to our customers continually,” she noted.

Chong said that the impact of the pandemic on sales was mitigated by an increase in the company’s digital footprint as well as new products.

Honey Bun recently launched an online ordering and delivery service, which Chong said was successful.

“All in all, I think it has been good because we continue to see an increase in sales year over year,” she said.

The shutdown of the tourism industry has stalled the company’s plans to expand its presence in the sector

“We all know what happened with the hotels, there were no tourists to feed, so of course our plans were shaken,” Chong said.

“Schools represent a significant part of our markets, and that is almost eradicated,” she added.

Chong noted, however, that the company has managed to thrive due to more preparation before the pandemic.

“We may not have known about COVID, but we always anticipated that there could have been something that would have affected our school sales because we get affected every summer when school is out,” she noted.

Chong said she believes the company will see more significant growth once the tourism industry rebounds and schools reopen.

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