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- Creso Pharma (CPH) has reported its second consecutive quarter of record revenue growth, reaching just over $1.7 million in the quarter ending June 30
- This is a 24 per cent increase over the last quarter and a 451 per cent increase over the previous corresponding period
- The growth has come from strong demand for Creso’s animal and human health CBD products as well as craft cannabis products from its Canadian subsidiary
- On the market this morning, Creso is up 14.3 per cent and is trading at 16 cents per share
Creso Pharma (CPH) has reported its second consecutive quarter of record revenue growth.
In the quarter ending June 30, the cannabis business has generated just over $1.7 million in revenue during the second quarter of 2021 — a 24 per cent increase on the previous quarter and a 451 per cent increase on the previous corresponding period.
The growth has come from strong demand for Creso’s animal and human health CBD products as well as craft cannabis products from its Canadian subsidiary, Mernova Medicinal.
Notably, Mernova has generated over $1 million in sales to date from Canadian purchases.
Additionally, Creso’s Swiss operations have contributed around CHF469,083 (around A$675,000) to the quarterly revenue growth, through the sale of its high-quality CBD products for animals and humans.
“Recent sales growth across the group is very pleasing and provides a very strong foundation for the remainder of 2021 and beyond,” Non- Executive Chairman Adam Blumenthal said.
“We look forward to providing further updates on revenue growth from our existing operations through new product launches and ongoing international expansion efforts.”
Importantly, this revenue growth is in line with the company’s strategy of increasing sales in existing key markets, international expansion and introducing new products.
On the market this morning, Creso is up 14.3 per cent and is trading at 16 cents per share at 10:36 am AEST.
