As per latest ASX announcement on 13th December 2018, SECOS Group Limited (ASX: SES) has reported first sales of its customer Purus’s BioHybrid Adhesive Mat. Purus utilized the synergies of SECOS-Purus partnership and developed the eco-friendly adhesive mat derived from SECOS’S BioHybrid resin.
Purus’s BioHybrid Mats are the world’s first contamination control products containing sustainable plant-based materials. Purus is selling the Adhesive Mat to large companies across the US and Europe, capitalising on the growing demand for environmentally-friendly products. The mats developed with cutting technology and innovative techniques, captures whooping 99% of the dust and dirt.
BioHybrid Mats powered by SECOS’ resin, offer mixtures of polyethylene with thermoplastic starch which is made from earth-friendly raw materials. Instead of relying on the standard resin, Purus obtains SECOS’S BioHybrid resin which provides a significantly reduced carbon mark in comparison to petrochemical polymers.
SECOS Group Limited is a leading producer of renewable and bio degradable products. Based in Melbourne, SECOS supplies its flagship product BioHybrid resin, eco-friendly packaging products and high-quality sustainable films to big global giants.
Purus, formed in 2003, offers high grade, clean and earth-friendly products to clients across the globe. It has strong market presence in US and Europe providing high technology and sustainable products such as cleanroom paper, mat frames, glove liners, cleanroom socks, cleanroom shoes, etc.
As stated by SECOS chairman, the company is anticipating establishing a stronger global foothold. It aims to continue providing cutting-edge eco-friendly products to organizations across the geographies, increasingly placing great importance to environmental awareness.
Purus management also expressed its focus on sustainable across the length and breadth of its product line, with its strong concern over an alarming earth related issue.
SECOS financial results
Company shared its annual financial results as on June 2018. The revenues from ordinary activities increased to $23.7 million, up by 5.7% from last year’s $ 22.4 million. Company reported a Net Loss of 31 million representing an increase of 5.4% from previous 29.5 million.
SECOS stock performance
SECOS stock is currently trading at $0.065. It reflects a market capitalization of $15.64 million and Earnings Per Share of -0.016 AUD. Its stock reflected massive fall this year with a YTD return of -36.64%. Over the past 6 months, share price have fallen by whooping 25%.
Pressured by increased consumer awareness and global regulatory norms, companies are increasingly moving towards adoption of sustainable and biodegradable technology to develop environmentally friendly products.
In this regard, SECOS, offering high-grade renewable products to socially responsible organizations, holds excellent growth potential in near term. Investors can surely put the stock in their watchlist given SECOS product line catering to expanding social awareness among the companies across the globe.
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