Australia's Ecofibre rises on Q1 revenue jump

Ecofibre

27/10/2022 01:52

** Shares of Australia's Ecofibre  EOF.AX  rise as much as
6.7% to A$0.24, their highest since Oct 19
    ** The hemp products provider posts first quarter revenue of
A$8.2 million ($5.32 million), indicating a 11% jump on prior
quarter  urn:newsml:reuters.com:*:nASX9BQZ7j
    ** Says revenue growth from the last quarter was driven by a
strong performance from Hemp Black, co's industrial business
focused on textiles and bioplastics
    ** Stock has fallen 59.8% this year as of last close
($1 = 1.5418 Australian dollars)
 (Reporting by Rishav Chatterjee in Bengaluru)
 ((Rishav.Chatterjee@thomsonreuters.com;))