Green shoots emerging
Zoetic International, the UK’s only LSE listed vertically integrated CBD company, has released its interim results for the six months ending 30 September 2019. The group reported a loss of £4.0 million which reflects the start-up costs of the CBD business, a write down of exploration assets and an unprofitable Natural Resources business (which has now achieved profitability). However, more importantly these results show encouraging evidence that its CBD business is starting to gain traction and should be the main driver of business going forwards. With the brands established, management is now focusing on revenue growth.