Carbonxt Group Ltd. (AU:CG1) has released an update.
Carbonxt Group Ltd reported a solid March quarter with an 8% increase in customer receipts to $3.6m, driven by a 56% surge in Powdered Activated Carbon sales and a 37% rise in Activated Carbon Pellets sales, indicating a strategic expansion beyond coal-fired power stations and improved manufacturing efficiencies. The company’s anticipation of operations at its new Kentucky production facility in Q3 CY2024 is timely, aligning with the US EPA’s stringent PFAS regulations set to boost the demand for water treatment solutions. Despite a slight operational cash flow loss, Carbonxt is poised for growth with expected gross margin improvements post the Kentucky facility’s commissioning.
For further insights into AU:CG1 stock, check out TipRanks’ Stock Analysis page.
