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Aphria Inc (TSE:APHA) Deliver Another Profitable Quarter

Thursday, October 17, 2019 6:13

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Aphria Inc (TSE:APHA) (NYSE:APHA) Interim CEO Irwin Simon joins Midas Letter to discuss the company’s latest quarterly financial results. Aphria reported its second consecutive quarter of profitable growth with a net income of CAD$16.4 million. Net revenue was reported to be CAD$126.1 million in the first quarter, which represents an increase of 849% from prior year quarter and a decrease of 2% from the quarter prior. The company’s profits were primarily the result of a shift in its ownership stake in Althea Group Holdings Ltd which added CAD$24.3 million to its long-term investment profits. Changes in value to its convertible debentures also added a further CAD$30 million approximately. The CEO stated “rec cannabis sales are up 8 percent; our overall sales are up 400 percent versus a year ago.” Mr. Simon also discussed the company’s development with regards to corporate governance and management changes.

Original article: Aphria Inc (TSE:APHA) Deliver Another Profitable Quarter

Source: https://midasletter.com/2019/10/aphria-inc-tseapha-deliver-another-profitable-quarter/

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