Little Green Pharma reported a 5% reduction in its financial loss for FY24, with an after-tax deficit of A$8.2m. Despite this, the company saw revenue growth of 29% and achieved a positive net operating cash flow of $66,791. However, their performance was mixed, with significant revenue growth in Australia but a decline in European sales. CEO Paul Long expects new regulatory shifts to benefit the company, citing the emergence of medicinal cannabis markets in France and legalisation in Germany and the US. Nonetheless, he also highlighted challenges due to rapid market growth and increasing competition. LGP’s shares fell by 7.7% in trading, and the company’s available cash decreased to $5m.
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Written by: Steve Jones
Published on June 3, 2024 at 03:38PM
Source: Cannabiz (opens in new tab)