Canadian producer announces surprising results
Reuters: Aurora Cannabis Inc announces better than expected quarterly revenues, the company has enjoyed the highest sales since the legalization of the recreational last October.
The company has invested heavily in anticipation of the opening of the Canadian beverage, edible and concentrate market and its international expansion.
The company's sales in the Canadian consumer market amounted to 21,6 millions of Canadian dollars in the second quarter, which represents approximately 20% of all sales to the consumers of the country.
Aurora said cannabis sales during the quarter increased, from 1 162 kg to 6 999 kg.
The net sales of the Edmonton, Alberta, company amounted to 54,2 millions of Canadian dollars (40,75 US $ million), compared to 11,7 millions of Canadian dollars for the previous quarter, exceeding the average of 51,84 million Canadian dollars from two analysts' estimates, according to the data IBES Refinitiv.
The number of consumers remains stable
One might think the opposite but, almost four months after the legalization and according to a survey carried out by Statistics CanadaConsumption remains relatively stable and consumers seem to be controlling their habits fairly well.