Despite all of the negative talk around the cannabis sector’s market performance lately, a major licensed producer reported on Tuesday that it is continuing to see some growth.
Aphria Inc. (TSX: APH) saw a $16.4 million profit in its latest quarter, up from $15.8 million in the prior quarter, its second consecutive quarter of profitable increases. However, Aphria did bring in $21.2 million in the same quarter last year.
Headquartered in Leamington, Ontario – the greenhouse capital of Canada, the company also noted that revenue for what was the first quarter of the company’s 2020 financial year totalled $126.1 million, compared with $128.6 million in the prior quarter. Yet it was also $13.3 million a year ago before legalization of recreational cannabis in Canada.