On Thursday, wood pellet producer Cogra reported sales of 51.2 million euros for its 2022/2023 financial year, ending June, up 22%.

In the 4th quarter, sales for the Mende-based group came to 8.8 million euros, again up 22%.

In its press release, the company refers to a "notable success" following its 2021/2022 financial year, which saw 50% growth driven by the start-up of its new plant.

Cogra explains that it has benefited from its strategy of "reasoned" sourcing and price management, reflected in "measured" price increases, which have enabled it to win new customers and strengthen its distribution network.

The Group is therefore confident in its ability to achieve an Ebitda margin of at least 15% for the full year, in line with its objectives.

The company's expectations for the 2023/24 financial year should be made clearer when it publishes its annual results, scheduled for September 11.

Quoted on the Paris Bourse, Cogra shares rose by 2.5% following these announcements.

Copyright (c) 2023 CercleFinance.com. All rights reserved.