Redox, the Australian-based chemical distribution heavyweight has continued to out-perform its peers with a gigantic $107.9m+ (19.8%) increase in sales revenue last financial year from $546m to a record $653.9m.
Dipping into its war-chest to supercharge growth, the company has pushed resources into expanding its sales team significantly and investing in enlarged stock positions and as a result grew sales in a number of industry sectors such as Water Treatment, Explosives, Agriculture, Plastic, Food and Mining.
While manufacturing conditions are generally weak leading to tougher trading conditions Redox has been able to take advantage of instability and flux within its competitors to take market share.
Net Tangible Assets of the group now exceed $234.6m which allows a significant fighting fund to make new acquisitions and enter new markets.
Managing Director Robert Coneliano of Redox Pty Ltd, said “We’re immensely proud of this result and it shows the compelling value that we bring to our clients and supplier partners. The sales strategy that we have in place will see us continue to grow in new markets like the US/Malaysia and defend and grow our positions in our fortresses of Australia/New Zealand. Pending orders are currently up more than 30% on the same time last year so the future looks very bright for us.”