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Phoslock Environmental Technologies Limited ( (AU:PET) ) just unveiled an announcement.
Phoslock Environmental Technologies reported an increased cashflow deficit from operating activities in the December 2024 quarter, primarily due to lower customer receipts. Despite disappointing sales figures, the company is optimistic about upcoming quarters, with resumed R&D efforts in China and a new distribution agreement in the US. Legal challenges persist, with ongoing investigations and class actions impacting the company’s financial and operational strategies.
More about Phoslock Environmental Technologies Limited
Phoslock Environmental Technologies Limited operates in the environmental technology industry, focusing on water treatment solutions. The company is known for its Phoslock product, a lanthanum-modified bentonite used for treating water bodies affected by harmful algal blooms and excess phosphorus. The company’s market focus includes regions like Europe, China, and Brazil, with recent efforts to expand sales in the US.
YTD Price Performance: 25.00%
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$15.63M
For detailed information about PET stock, go to TipRanks’ Stock Analysis page.