News

Kanabo Group Reports Narrowed Pretax Loss for First Half-Year

1 Mins read

Kanabo Group, a leading medical-cannabis company, has announced a substantial reduction in its pretax loss for the first half of the year. This positive financial outcome was driven by an impressive 88% increase in revenue, largely attributed to strong sales in existing markets. In addition, the company is actively seeking expansion opportunities to further bolster its growth.

For the six months ending on June 30, Kanabo Group reported a pretax loss of £1.6 million, a significant improvement compared to the £3.8 million loss during the same period last year. Moreover, revenue experienced a substantial surge from £239,000 to £449,000.

The company also achieved a remarkable 63% reduction in operating loss, with figures dropping from £3.7 million to £1.4 million. These remarkable results reflect Kanabo Group’s relentless commitment to excellence and continuous efforts to optimize its financial performance.

Chief Executive Officer Avihu Tamir expressed enthusiasm about the company’s current position and future prospects. He stated, “We are actively exploring opportunities to expand beyond pain management into other medical fields that exhibit significant unmet demand. As we move forward, our primary objectives remain focused on increasing our patient numbers and revenue, while staying dedicated to providing personalized and accessible healthcare.”

With a firm belief in the company’s potential for both the short and medium-term, the board remains confident in Kanabo Group’s overall trajectory and strategic direction.

Related posts
News

Banking Regulations for Preventing Failures

2 Mins read
Banking regulators have the power to prevent future bank collapses, according to a panel of banking experts who emphasized the importance of…
News

Dave's Strong Q4 Performance

1 Mins read
Shares of Dave surged on Tuesday following the digital bank’s announcement of a profitable fourth quarter earlier than expected, with a positive…
News

DaVita Expands in Latin America

1 Mins read
Shares of DaVita reached record levels as the kidney care services company announced its significant expansion into Latin America through a $300…

Leave a Reply

Your email address will not be published. Required fields are marked *

− 3 = 4