Australia's ECS Botanics hits more than 1-1/2-month high on upbeat results

ECS Botanics Holdings

15/01/2024 23:51

** Shares of ECS Botanics Holdings Ltd  ECS.AX  rise as much
as 13.6% to A$0.025, their highest level since Nov. 27, 2023 
    ** Medicinal cannabis co posts Q2 revenue of A$7.3 mln
($4.86 mln), a 64% increase on prior corresponding period
    ** Co posts cash receipts from customers for qtr of A$6.5
mln, up 70% on pcp 
    ** Says revenue growth driven by increased sales of both
oils and flower from existing customers, among others  
    ** Stock declined 12.5% in 2023 

($1 = 1.5033 Australian dollars)

 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))