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CPH releases material announcement
Creso Pharma Ltd (ASX:CPH | OTC:COPHF)has just confirmed two consecutive quarters of record revenue growth.
CPH posted $1.71M revenue this quarter - up from $1.38M in the previous quarter - that’s 24% growth.
Revenue is up 451% compared to the same quarter last year.
Today's CPH news is ACTUAL material news… actual revenue generated from business activities.
Obviously we haven't seen the full details of the June quarterly yet (it will be out in a few weeks), but in our opinion today’s revenue news is positive - adding strength to CPH in the lead up to the planned merger with psychedelics company Red Light Holland.
CPH tends to release a lot of announcements and it can be hard to keep track of the company’s strategy and activities. This can be a good thing as it signals the company is working hard, but at times can be a little overwhelming as investors struggle to keep up with the various arms of its operations and pick out the news that matters.
So, yes we think today’s CPH announcement is actually good - Posting A$1.7M revenue in the quarter is a pretty big achievement - and it shows positive growth, as it's up 24% from the previous quarter, and up 451% compared to the same quarter last year.
CPH is one of our bigger positions after we invested at 3c then again in the placement at 19c. We entered CPH as a short term trade, but having seen its progress, decided to hold a position for the medium term and now into the proposed merger.
CPH went into a trading halt last Friday - which at times can be a bit like the ‘boy who cried wolf’ with CPH, with no material news after trading halt - but given today’s news relates to material revenue for CPH and is a solid step in the right direction, we thought it worth a comment.
