Cogra climbed sharply on the Paris Bourse on Thursday, after reporting a sharp increase in quarterly sales.

At around 12:10 pm, the wood pellet producer's share price gained over 7%, making it one of the biggest risers on the Paris market.

This morning, Cogra reported sales growth of 16% to 17 million euros for the third quarter of its non-calendar financial year, which ended at the end of March.

The Mende-based group explains that, at the end of the winter season, it adapted its production rate to demand, which was slowed by mild temperatures and stocks built up at the start of the winter in response to the energy crisis.

Over the first nine months of the year, i.e. from July 1 to March 31, sales totaled 42.4 million euros, compared with 35 million euros a year earlier, an increase of 21%.

In its press release, Cogra says it is looking to the future with confidence, and is counting on an Ebitda margin of at least 15% for its 2022/23 financial year.

It stresses that the historical seasonality of its business has been greatly attenuated by the marked anticipation of retailers and consumers at the start of the season.

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