Australia's ECS Botanics Holdings rises on record revenue forecast

ECS Botanics Holdings

12/01/2022 02:40

** Shares of ECS Botanics Holdings  ECS.AX  climb as much as
8.1% to A$0.034, their highest since Nov 23
    ** The hemp-based food maker expects https://www.asx.com.au/asxpdf/20220112/pdf/454xqr0j4346dg.pdf
 revenue of about A$1.5 mln ($1.08 mln) for Q2 FY22, an increase
of 325% on Q2 FY21 revenue of A$352,000
    ** The upward trajectory was underpinned by strong, ongoing
demand for ECS' GMP manufactured medicinal cannabis products and
sales of hemp products - ECS Botanics 
    ** Stock posts its biggest intraday percentage gain since
Dec 3
    ** Volumes are about 3 times their 30-day avg of more than
2.5 mln shares 
    
    ($1 = 1.3868 Australian dollars)

 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))