logo-loader
viewZoetic International PLC

Zoetic International primed for 2020 with 'seed to shelf' strategy gaining traction

“Shareholders have come to know me for my conservative approach and I am not one for grand predictions but I remain confident that our multi-channel sales approach can bring success to our company,” said Zoetics boss Nick Tulloch

Zoetic International PLC -

Zoetic International PLC (LON:ZOE) said its interim results revealed the CBD specialist’s ‘seed to shelf’ strategy was working, with the company’s chief executive upbeat on the prospects for next year.

“Shareholders have come to know me for my conservative approach and I am not one for grand predictions but I remain confident that our multi-channel sales approach can bring success to our company,” said Nick Tulloch in commentary accompanying its first-half update. 

“We have a number of key events in the first quarter of 2020 and I will look forward to providing regular updates.”

 

Revenues for the six months ended September 30 grew to £1.15mln from £520,000 a year earlier with 89 stores in the US now stocking Zoetic and Chill products. A trial is underway with Mr Checkout, the North American distributor.

On this side of the Atlantic Zoetic brands will appear in the easyJet magazine.

In its latest update, the company said it now has 25 products across Zoetic and Chill brands, while its feminised seed production remains on track for the 2020 growing season.

The group also said its historic natural resources business, which includes interests in shale and an oil recovery technology, is now trading profitably after a “radical restructuring”.

“We continue to assess interest from prospective buyers but the urgency to dispose of this division has now abated and so we will ensure a compelling price is paid before sanctioning any sale,” said CEO Tulloch.

Turning to the financials, Zoetic made an operating loss of just over £1.7mln for the period. As at September 30, it had just over £1mln in cash.

"Our interim results and our achievements during the remainder of 2019 have positioned us as the only vertically integrated CBD company listed on the London Stock Exchange,” said Tulloch.

“To that, we added trading on the OTC in New York in November.  Our task now is to deliver on the business lines we have created.”

Shares fell 8% to 5.9p.

 

-- add video, share price --

Quick facts: Zoetic International PLC

Price: 4.9 GBX

LSE:ZOE
Market: LSE
Market Cap: £7.31 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Zoetic International PLC named herein, including the promotion by the Company of Zoetic International PLC in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Highlands Natural Resources showcases CBD products ahead of UK launch

Highlands Natural Resources PLC's (LON:HNR) Nick Tulloch chats to Proactive London's Andrew Scott ahead of the start of sales of their cannabidiol (CBD) products in the UK this month. The oil and gas company made the move into CBD back in March this month. Tulloch says the first...

on 17/7/19

2 min read