Redox are proud to announce another sales record with revenue growing to $1.26b, up from $1.08b in 2022.
CEO & Managing Director Raimond Coneliano said “We achieved a record FY23 sales result with revenue increasing 16.2% to $1.26 billion over the prior year. This is a fantastic achievement despite the industry at large continuing to face uncertain global economic and trading conditions and pricing volatility. The record sales performance was supported by our strategic decision in the first half of the year to secure inventory to reliably meet our customers’ demand.
As such, Redox was able to maintain its strategic leadership in its core market of Australia and New Zealand, delivering important gains in share of wallet with some of our larger customers, which was supported by adding exciting new products to our diversified portfolio.
In the US, a key growth market for Redox, we continued to grow our presence by expanding into four new locations, bringing our network to six. This geographic expansion and new customer wins have driven strong revenue growth, and we are confident the expanding platform will continue to maintain the positive momentum we are experiencing in the US.
In Asia, sales in Malaysia were relatively stable in FY23 while we also registered a new entity in Singapore to take advantage of the opportunities in that market.”
The company thanks it’s loyal customers, suppliers and team members for their support during the year.