Cannapany on January 31, 2020 No Comments
The company’s performance is beating all expectations
As one of the first companies in Florida to present whole flower products to the market in all of its dispensaries, Liberty Health Sciences (CNQ: LHS) is presenting positive financial figures for the third quarter, which ended November 30, 2019. The consolidated sales were reported at $16,122,254, which is impressive when compared with the same period in 2018 – during the previous third quarter, the total sales were reported at $3,172,097. The total sales, including the nine-month period ending on November 30 of last year, were $32,270,471, and, for the same period a year before, with the nine-month period ending on November 30, 2018, the total sales number was $6,532,505.
These are already impressive numbers for Liberty Health, but it does not end there, as the overall growth during the same period between 2018 and 2019 was the most significant. By the end of November, the company reported a net income of $6,891,713, quite a difference from the net loss reported back on November 30, 2018, $9,698,829. The year-over-year growth is attributed to the company opening new dispensaries as well as delivery locations. On top of that, already opened stores experienced an increase in the overall sales volume, as well as an uptrend of patients registered for medical marijuana treatment. Another positive number for Liberty Health is the overall cash and cash equivalents total that, as of November 2019, was reported to be $28,539,868, more than double what it was reported by February 20, 2019.
Liberty’s products include eight quality brands such as Liberty Health Sciences, Zentient, Pretty Pistil, Papa’s Herb, Mary’s Medicinal, G Pen, PAX, and Lemon and Grass. So far, Liberty Health is one of the favorites in the Sunshine State, ranking in second for the last five months. “The third quarter of fiscal year 2020 has continued to show positive results,” said Victor Mancebo, interim CEO of Liberty. “We are pleased with the results, which are made possible due in part to our loyal patients in Florida and our dedicated and knowledgeable staff working throughout the state.”
Congratulation!