Aurora Cannabis shares gain on post-legalisation sales in Canada
The cannabis producer posts C$29.7m in revenue, up from C$8.2m a year earlier
Toronto — Aurora Cannabis, the first pot producer to report earnings since Canada legalised marijuana last month, gained as much as 5% in pre-market trading after profit and sales surged. Aurora posted C$29.7m ($22m) in revenue for the fiscal first quarter ended September 30, up from C$8.2m a year earlier. Although the quarter ended before Canada legalised recreational marijuana on October 17, the revenue figure included C$600,000 in sales to the provinces. The remainder was from medical sales. Aurora’s products and brands ranked among the top sellers in many of the provinces it supplied in the first two weeks of legalisation, the company said in a statement on Monday. In Ontario, Canada’s most populous province, Aurora brands accounted for approximately 30% of the total market supplied through the government-run Ontario Cannabis Store, while in British Columbia, Aurora had the top four best-selling dried flower products. Shortages have persisted across the country since the early d...
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