Australia's ECS Botanics climbs on upbeat revenue outlook

ECS Botanics Holdings

08/10/2021 03:31

** Shares of hemp-based food maker ECS Botanics Holdings Ltd
 ECS.AX  rise as much as 10% to A$0.044, their highest since
Sept. 17
    ** Co sees record revenue of over A$900,000 ($658,350) for
the quarter ended Sept. 30 - a 616% increase on pcp  urn:newsml:reuters.com:*:nASX5VjCMw
    ** Says results driven by domestic medicinal cannabis sales
and growth in hemp product sales
    ** Upward trajectory expected to continue through FY2022 as
cultivation and manufacturing capacity ramps up 
    ** Stock posts its biggest intraday pct gain since Sept. 16
    ** More than 3.4 mln shares change hands, vs the 30-day
average volume of ~1.8 mln
    ** Stock up 2.6% YTD, as of last close
($1 = 1.3671 Australian dollars)

 (Reporting by Arundhati Dutta in Bengaluru)
 ((Arundhati.Dutta@thomsonreuters.com;))