Highlights
- Record revenue and cash receipts
- Revenue of $10.2 million (unaudited), up 40% on prior quarter
- Cash receipts of $10.8 million, up over 30% on prior quarter
- Net operating cash inflow of over $1.0 million resulting in cashflow positive quarter of $0.6 million
- Cost savings of $0.5 million per year expected from subcontracting Australian cultivation operations
- German, UK and French cannabis markets driving strong growth in European industry demand
- Cash in bank of $4.8 million up from $4.3 million
Little Green Pharma (ASX:LGP) has delivered a robust performance in the September quarter, achieving record revenue and cash receipts.
The company reported unaudited revenue of $10.2 million, reflecting a 40% increase over the prior quarter, while cash receipts rose over 30% to reach $10.8 million.
This strong financial performance led to a net operating cash inflow of more than $1.0 million, resulting in a cashflow positive quarter of $0.6 million.
Growth in the European cannabis market, particularly in Germany, the UK, and France, continues to drive demand.
With cash in the bank increasing to $4.8 million from $4.3 million, Little Green Pharma is well-positioned for continued expansion.
Contact details:
David Tasker
Chapter One Advisors
T: +61 433 112 936
E: dtasker@chapteroneadvisors.com.au