Business
The Secos (ASX:SES) share price has soared 13% higher today. Here’s why. // Motley Fool Australia
The Secos Group Ltd (ASX: SES) share price is soaring higher today after the sustainable package materials company announced a positive sales update. At the time of writing, the Secos share price is trading up 12.9% higher at 18 cents. Let’s take a look.
Sales growth
Secos reported its September quarter sales were $5.8 million, up 19% on the June quarter. Biopolymer sales jumped more than 75% compared to the prior corresponding period. This represented its strongest quarter result on record.
The company said that sales were expected to further increase more than $8 million in the current December quarter. Demand for its Cardia biopolymer resin, film and bags continues to grow with increased awareness of compostable plastics as an…
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