Canopy Growth posts quarterly detriment as epoch of authorised pot nears

Canopy Growth Corp. reported a fourth-quarter detriment of $61.5 million as it prepared for a launch of a authorised Canadian recreational cannabis marketplace after this year.

The detriment amounted to 31 cents per share for a entertain finished Mar 31 compared with a detriment of $12 million or 8 cents per share a year ago.

Revenue totalled $22.8 million, adult from $14.7 million in a same entertain final year.

During a quarter, a association sole 2,528 kilograms and kilogram equivalents during an normal sales cost of $8.43 per gram.

That compared with 1,740 kilograms and kilogram equivalents during an normal cost of $8.03 per gram a year earlier.

Canopy Growth also announced that boss Mark Zekulin has combined a purpose of co-chief executive officer. Zekulin will continue to news to authority and arch executive officer Bruce Linton, who oversees a company’s tellurian plan and execution.

Article source: https://www.cbc.ca/news/business/canopy-growth-earnings-1.4724145?cmp=rss