Australia's SECOS jumps on upbeat FY outlook

MyEco

11/08/2021 02:01

** Shares of SECOS Group  SES.AX  rise as much as 6.6% to
A$0.325, their biggest intraday pct gain since July 13
    ** Bioplastics developer expects a FY net profit of A$2.6
mln ($1.91 mln), up from a net loss of A$1.2 mln reported last
year  urn:newsml:reuters.com:*:nASX68bfgT
    ** Expects FY revenue to jump 43% to A$30.1 mln
    ** Adds co's capacity expansion rollout plan will be
completed in late CY2021 and will help higher rate of growth in
H2
    ** Stock climbs to its highest level since July 28
    ** About 591,000 shares change hands, compared with the
30-day average volume of 584,000 shares
    ** Stock up 52.5% this year, as of last close


($1 = 1.3624 Australian dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))