Supreme Cannabis narrows loss as revenue soars

Ciara Linnane - finance.yahoo.com Posted 5 years ago

Supreme Cannabis Co. Inc. said Tuesday it had a net loss of C$1.55 million ($1.17 million), or 1 cent a share, in its fiscal second quarter to Dec. 31, narrower than the C$2.03 million, or 1 cent a share, posted in the year-earlier period. Revenue rose to $7.72 million from $1.68 million. With only two analysts covering the stock, there are no reliable consensus estimates. The company said it made its first shipments of 7 Acres branded cannabis to six of Canada's provincially regulated adult-use channels in the quarter. It announced an international partnership with Khalifa Kush Enterprises to develop and launch cannabis products for the Canadian and international markets, excluding the U.S. U.S.-listed shares were not active premarket, but have fallen 14.7% in the last 12 months, while the S&P 500 has gained 2.0%.

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