Aluula Composites Inc (TSE:AUUA) has released an update.
Aluula Composites Inc. has reported a substantial 47% sales growth in the first half of 2024, alongside a gross margin increase to 43%, marking significant progress in their financial performance. The company has successfully penetrated the wind sport market, with sixteen brands adopting their materials, and has streamlined operations by divesting non-core assets, including Ocean Rodeo’s business operations. Strategically focusing on high-performance composite materials, Aluula is also committed to sustainability and has established partnerships to bolster their market position.
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