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02/09/20
12:32
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Cann Global (ASX:CGB) sees revenue increase across food division in FY20
- Global medicinal cannabis, hemp seed and wellness corporation Cann Global (CGB) has reported positive sales growth over FY20
- The company reported $1.8 million in revenue, which is a 275 per cent increase on the prior year of $481,000
- This increase was due to the company's expansion into plant-based food products and the purchase of T12 Holdings
- Cann Global's food division was the strongest this year, recording $1.6 million in revenue, which is a 232 per cent increase from 2019
- However, the group reported a total loss of around $8 million, which is 13 per cent better than 2019's $9.2 million
- Cann Global Thailand, which is 55 per cent owned by the company, achieved a first-year profit of $143,250
- Executive Chairperson, Pnina Feldman, is pleased with the revenue during the current uncertain environment
- On the market today, Cann remains in the grey and is trading for 0.5 cents per share
Read the full article on The Market Herald here: https://themarketherald.com.au/cann-global-asxcgb-sees-revenue-increase-across-food-division-in-fy20-2020-09-02/