Cannapany on August 4, 2020 No Comments
The cannabis company continues to excel as sales reach significant improvements
One of the leaders in providing high-quality cannabis just announced the latest financial results for the fiscal year 2021 first quarter, and the outlook looks promising. Liberty Health Sciences Inc. has presented the results for the first quarter of the year that ended on May 31, 2020 and one of the aspects to highlight is the consolidated net sales for the quarter that were reported at $13,745,831. This signifies a huge difference compared to the $4,115,053 for the same quarter that ended May 31, 2019.
Among other good news presented in this latest financial health report, Liberty reported an adjusted EBITDA of $3,416,391, as opposed to the negative adjusted EBITDA of $2,718,349.66 in the same period last year. That single-year growth stands out as one of the better success stories for the cannabis industry this year. The company has expanded its portfolio of products that now includes 11 brands, such as Liberty Health Sciences, Zentient, Pretty Pistil, Papa’s Herb, Mary’s Medicinals, G Pen, PAX and Lemon and Grass, among others.
In addition to that, Liberty has been working on expanding its reach by opening new dispensary locations as well as a 387-acre state-of-the-art Liberty-360 facility that has a production space of 300,000 square feet.
“The first quarter of fiscal year 2021 has continued to show steady results quarter over quarter as we remain committed to operating as a safe and essential service during this prolonged COVID-19 pandemic,” said Victor Mancebo, CEO of Liberty. “I am proud of our team’s commitment to adapt to the challenges the virus has created as we continue to innovate and grow. They have allowed us to keep our doors open and serve our patients in every way possible. We are also getting ready for several exciting announcements and partnerships and anticipate that our patients across Florida will share in our enthusiasm, which in turn will increase our market share.”
Congratulation!