SECOS Group Ltd (AU:SES) has released an update.
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SECOS Group Ltd reports a significant increase in sustainable product sales to $4.3 million for Q3 FY24, up 40.2% from the previous quarter, led by strong demand for MyEco branded products and council waste management solutions. Despite ceasing trade in traditional plastics, the company achieved higher gross margins and maintains a strong cash position with $6.5 million and no debt. Strategic partnerships and successful tenders, such as with Swan City Council, are expected to bolster future revenues and market share.
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