Page 80 - InterloopAnnualReport2021

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LOOKING STATEMENT

COMPANY’S PERFORMANCE AGAINST
LAST YEAR’S PROJECTIONS/STATUS
OF PROJECTS

2020 – 2021 was an unprecedented year which presented a a strategic focus on offering multi-category products,
global crisis on many fronts that we have never experienced. delivered with exceptional customer service and
The health and economic crisis were followed by severe manufactured responsibly, meeting the highest standards
supply chain disruptions; including raw material shortages, of social and environmental performance.
logistic challenges and mounting cost pressures.
With a stable political outlook, strong macroeconomic
At Interloop, our teams worked incredibly hard to overcome indicators and fully vaccinated workforce, we are confident
these challenges and continued to provide outstanding about the future, as we go all in to execute Vision 2025.
service to our partners. Despite difficult business conditions,
we made a conscious decision to ensure there were no SOURCES OF INFORMATION AND
layoffs or retrenchments. As a result we quickly mobilisied ASSUMPTIONS USED FOR FORECASTS
our workforce as we changed gears to move into growth
The projections for the upcoming financial years are based
mode. Our business bounced back better than expected,
on assumptions and analyses comprising historical trends,
recording the highest annual sales in Interloop’s history at
current state, future forecasts and expansion plans, in-line
USD 351 million. Major contribution came from the hosiery
with company’s mission. Operational and financial plans
business at USD 270 million, followed by our yarns business
are devised in line with strategic direction and approval
contributing USD 40 million. More importantly, our new
of the Board of Directors, following an extensive due
business categories including Denim, Knitted Apparel, and
diligence process including legal, financial, and technical
Seamless Active wear contributed another USD 40 million
feasibility studies.
laying a strong foundation for our future growth plans.
COMPANY’S PREPAREDNESS TO
Vision 2020 was our previous five years’ strategy, ending
RESPOND TO CRITICAL CHALLENGES
June 2021. Our ambition to drive top line growth through
value addition, process improvement and nourishing talent The company has a robust Business Continuity Plan and
proved successful as we diversified our business launching is well equipped to respond to critical challenges and
new categories. We came very close to our financial uncertainties as and when they arise. A recent example is
ambition and have laid a solid foundation for our next five managing the COVID-19 crisis during which Interloop had
years’ strategy. put together and executed the Pandemic Recovery Plan
and kept its employees safe and healthy, got more than
FORWARD LOOKING STATEMENT 94% employees vaccinated ensuring business continuity.
The Management regularly reviews the risk matrix to
Vision 2025 charts out our strategy from July 2021 to June
update mitigation strategies and stay ahead of the curve.
2026. It is guided by our CUSTOMER FIRST approach with

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