25th Nov 2019 16:00
(Alliance News) - Cannabidiol and natural resources company Zoetic International PLC said Monday it is on track to deliver six new products in the UK before Christmas.
The range of cosmetics include hand cream, night cream, facial serum and lip balms. Zoetic is also hoping to launch softgels - which include oral capsules - and a line of edible sweets, or gummies.
To coincide with the launch of these products, Zoetic is "expanding and upgrading" its marketing programme.
"The development of six new products in the UK has taken considerable effort from the team in both the UK and US. The primary target was to ensure that the cosmetic and beauty range was available for sale ahead of the Christmas period and I am delighted that we are on track for that," said Chief Executive Nick Tulloch.
Zoetic said its overall operating costs remain in line with management expectations.
Tulloch continued: "In our US division, the popularity of our chew pouches is surpassing expectations. This has meant that we may need to address manufacturing capacity earlier than we expected, but it is paramount that we are able to meet demand and the team in the US are already well advanced in examining options in this regard.
"In the meantime, as we look forward to commencing sales of feminised seeds next year, our outdoor farming operations have produced a successful outcome and we are now positioned to manufacture products with our own source of CBD."
Shares in Zoetic were down 3.0% in London on Monday at 8.20 pence each.
By Paul McGowan; [email protected]
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