SQDC increases profits and revenues in the second quarter [Video]

Société québécoise du cannabis (SQDC) reported net income up 18 per cent in the second quarter, to $29.4 million.

The Crown corporation’s total sales reached $173.7 million for the period ending September 14, up from $151.7 million a year earlier.

In volume terms, these sales represented some 34,675 kg of cannabis for the quarter, compared with 27,498 kg in the second quarter of the previous year. The average selling price was $5.76 per gram, including all taxes and all cannabis products combined.

In presenting its results in a press release on Thursday, the SQDC said that the growth in sales was due in particular to the end of the labour dispute that had limited activities in 24 branches during the second quarter of 2023-2024 and to the high level of activity during the summer period.

The company also highlighted the opening of two new branches, bringing the total to 100, …