Business
Here’s why the Coventry Group (ASX:CYG) share price is soaring 9% today
The Coventry Group Ltd (ASX: CYG) share price is beating the All Ordinaries Index (ASX: XAO) today. The surge in its shares comes as the company released its trading update for the first-half of the 2021 financial year.
At the time of writing, the industrial solutions provider’s shares are up 9.4% to $1.04. In comparison, the All-Ordinaries Index is also travelling higher, up 1.15% to 7,015 points.
What did Coventry Group announce?
According to this morning’s release, Coventry Group advised that it has achieved a positive result despite COVID-19 uncertainty.
For the period ending 31 December, the company reported group sales of $138.1 million. This reflected an increase of 12.5% over the prior corresponding period, and a 11.9%…
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