The Hydroponics Company (ASX:THC) is at the forefront of developing a leading, diversified worldwide cannabis business, focused on three core business units: Development and delivery of medicinal cannabis, manufacturing and distribution of hydroponics equipment, materials and nutrients, and large scale hydroponic greenhouse design and construction. R3D Global is looking forward to inviting investors to take an opportunity to support an industry with huge global potential.
1st QTR REVENUE UP 22% AND US EXPANSION
The Hydroponics Company Limited (ASX: THC) is pleased to announce that first quarter revenue in its wholly owned subsidiary CMDV (Crystal Mountain (Canada)/Dragon Vision (Hong Kong)) increased by more than 22% year-on-year to over $1.11m and is on track to exceed forecast of over $5m revenue for 2017.
Hydroponics Division commences US market scale up. THC is expanding into new markets where there are compelling opportunities to develop the Company as a leading manufacturer and distributer of hydroponic equipment and products. The United States is an important market for the planned roll out of new and existing products and will offer high potential to significantly increase revenue.
Multiple opportunities to execute agreements and promote a range of new products and technologies to further increase sales in 2017. The increase in revenue was attributed to an increase in the Company’s new product range over the past 6 months. The Company has commenced its US market expansion and is poised for growth with increased distribution and with the introduction of additional new products later this year.
Targeting US for growth in indoor farming equipment and product sales. The Company is now targeting large scale distribution and branding of its products in the United States, in line with plans to become a leading global manufacturer and distributer of hydroponics equipment and products.
Watch this video to find out more about the The Hydroponics Company’s strategic plan.