SECOS Group Ltd (AU:SES) has released an update.
SECOS Group Ltd reported mixed financial results for Q4 FY24, with a 3.2% annual decline in total sales of sustainable products but an 11% year-on-year increase for the second half of the fiscal year. Despite a quarterly drop in sales, the company has expanded its market presence through new supply orders with Ritchies and Woolworths stores and remains a market leader in compostable bin liners with significant shares in Coles and Woolworths. SECOS ended Q4 with $6.1 million in cash, no debt, and is actively participating in the upcoming Solving Plastic Waste Cooperative Research Centre program.
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