AoFrio Secures First Food Retail Contract, Forecasts Strong Growth

AoFrio Limited (NZX: AOF) has secured its first contract in the food retail sector after successful trials with three potential clients. The smart refrigeration technology company reported a 19.7% increase in revenue to $79.7 million for the year ending December 31, with North American revenue rising 11.3% to $54.1 million. Its Internet of Things (IoT) segment grew by 8.2%, reflecting the company’s expanding technological footprint. Looking ahead, AoFrio anticipates 2025 financial year revenue to reach $95 million, highlighting strong growth prospects. This milestone contract underscores its strategic expansion beyond traditional markets and positions it for sustained revenue growth in the smart refrigeration industry.

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