Interloop targeting $700m in revenue by 2026
02/11/2023
By using biomass fuel derived from organic waste instead of coal, the supplier expects to reduce total carbon dioxide emissions from steam generation by as much as 50,000 tonnes.
Interloop reported net sales of just under $140 million or 38.5 billion Pakistani rupees for the first quarter, an increase of 26.4% year on year. Around 47% of this revenue came from US sales, it told analysts, followed by Europe (37%) and Asia (16%). The domestic market contributed 6.9%. Interloop hopes to surpass $700 million in yearly revenue by 2026.
Capacity utilisation for hosiery, activewear, denim and apparel reached 75%, 29%, 71% and 29%, respectively, in fiscal 2023. The price of its denims was then $10.20 per piece.
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