If you are interested in the circular economy then the SusGlobal Energy Corp (OTCMKTS:SNRG) stock might be of interest to you. The company had come into considerable focus among investors on Tuesday after it announced its financial results for the fourth fiscal quarter and the full fiscal year, both of which ended on December 31, 2021.
In addition to that, the company also provided updates with regards to some of the operational progress that it had managed to make. One of the updates was with regards to the purchase of a property spanning 40,535 square feet in Hamilton, Canada. The purchase in question was made by the company through SusGlobal Energy Canada I Ltd, its fully owned subsidiary unit.
However, it was the financial performance that most investors are interested in and it may be a good idea to take a closer look at it. In the fourth quarter of 2021, the company managed to bring in revenues of only $144,246. It proved to be a massive year-on-year drop of as much as 66.63% from the revenues of $432,263 that it had generated in the prior-year quarter.
SusGlobal stated that the significant drop in revenues had been brought about by the fact that its organic waste processing and the composting facility had not managed to do as much business as expected.
Mark Hazout, who is the Chief Executive Officer of the company, noted that the company is going to continue to work towards the production of the regenerative products meant for its circular economy model. In addition to that, he also stated that he had the confidence that there was going to be a ramp-up in revenues through the course of 2022. At this point in time, it may be a good move for investors to keep an eye on the stock.
