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An update from SECOS Group Ltd ( (AU:MCO) ) is now available.
MyEco Group Ltd reported a 4.6% decline in quarterly sales to $3.9 million, attributed to shipping delays and decreased resin and council sales, despite a 63.6% increase in global sales of MyEco branded products. The company is undergoing operational restructuring to reduce annual fixed costs by up to $3 million and expand production capacity, with a focus on growing its market presence through innovative sustainable products.
More about SECOS Group Ltd
MyEco Group Ltd is a leading developer and manufacturer of sustainable packaging and materials. The company focuses on producing eco-friendly products, including reusable compostable carry-bags, and aims to replace traditional paper and plastic retail bags with sustainable solutions. MyEco Group is expanding its market presence in Australia and the USA, leveraging its biopolymer technology to drive growth.
YTD Price Performance: -17.39%
Average Trading Volume: 168,380
Technical Sentiment Signal: Buy
Current Market Cap: A$11.34M
For an in-depth examination of MCO stock, go to TipRanks’ Stock Analysis page.
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