Cannapany on February 5, 2020 No Comments
Revenue comes in six times higher than what was reported a year earlier
Liberty Health Sciences (CNQ: LHS), a provider of high-quality cannabis, has just released its numbers for the quarter that ended November 30, 2019, and things are looking very good. During this third quarter, the consolidated sales were reported at $12,138,145, which is consistently higher than the same period last year when $2,388,271 was reported. The cannabis industry continues on the rise after a difficult year, and, for Liberty Health, this significant growth follows up the opening recent services and expanding current ones.
In the nine-month period that also finished at the end of November, Liberty Health reported total revenue of $24,296,437. It also comes with an impressive increase if compared to the same period in 2018, when the company saw $4,918,323. Another good financial indicator is the net income. It went from losses to gains and, by the end of November 2019, the company reported $5,188,770 in net income. This is good news, since 2018 was a year that it reported net losses of $7,302,248. To continue with favorable figures in cash and cash equivalents is also positive, and Liberty Health went from $10,007,114 in 2018 to $21,487,666 by the end of November 2019.
Liberty Health continues with its expansion plans, and, during this quarter, new dispensaries were opened in Florida, as well as new delivery locations for service. Overall, the sales volumes at those dispensaries already in operation increased considerably. There was also an uptick in the number of registered medical marijuana patients in Florida, which also help the company due to its strong presence in the Sunshine State. Liberty Health is one of the first companies to enter the Florida cannabis market, and monthly sales — smokable marijuana included — was reported at $4.9 million. Based on those numbers, Liberty Health currently holds the second position in companies dispensing smokable marijuana in Florida.
Congratulation!