The Quebec Cannabis Society (SQDC) presented last Friday its report for the quarter from March 31 to June 22, 2019.
The SQDC generated a first net profit of 1.36 milllions out of total sales of 45.1 million.
The last quarter tells us that the SQDC sold a total of 6264 kg of cannabis.
This is an important step for the SQDC, which will expand significantly in the coming months. At least seven new SQDC stores will open across the province by the end of the fall.
At the moment, 16 stores are operating in Quebec. According to its deployment plan, the SQDC plans to have a network of more than 40 stores by March 31, 2020.
The increase in cannabis production available from producers as well as the significant addition of many stores is expected to significantly increase the profits of the SQDC in the next quarter. We must not forget the arrival of the edible in December 2019.
The first beniciary of this growth is undoubtedly the HEXO cannabis producer (HEXO-TSX / NYSE), which has a preferred producer contract of the SQDC for the next five years and will supply it with about 200,000 kg of cannabis.
HEXO will also make a splash in the food market in December with its joint venture with Molson Coors. TRUSS intends to be the Cannada leader in Cannabis based beverages and is targeting the US market in 2020. Concrete announcements should follow soon.
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This article is written and published by The Cannabis Stock
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