Aphria Inc (CVE:APH) posted its third quarter numbers, for the quarter completed February 2017. Vic Neufeld, who is the CEO of company, reported that with 5 successive quarters of strong profits and further growth in their production, they continued to record robust, positive momentum in the preceding quarter.
The unusual weather conditions provisionally added to costs in the third quarter. Still, the company managed to record post costs/gram that were lowest in the market. Aphria has been planning strategic investments so as to increase supply of best quality cannabis and position itself well to achieve further progress in medical-grade cannabis operations, attain growing demand for recreational cannabis, and create shareholder value.
In the last quarter, Aphria posted income before tax of around $4.95 million compared to income before tax of $945,678 in the previous quarter. This increase was primarily an outcome of the change in fair worth of long-term outlay portfolio.
The company posted third consecutive quarter that recorded EBITDA of more than $1 million. In the reported quarter, EBITDA came at around $1.005 million. This highlights Aphria’s focus on being a low cost producer and a major patient care service provider.
Revenue for the last quarter came at $5.118 million compared to revenue of $5.226 million recorded in the comparable quarter, a year earlier. The drop in quarterly revenue was consistent with the previously reported numbers. Adjusted gross profit was nearly $3.582 million. generated from retail and wholesale sale of medical cannabis.
In the third quarter, the total costs of dried cannabis/gram increased to $2.23 from $1.79 in the preceding quarter, registering a $0.44 increase. This increase can be associated to abnormal winter weather in Leamington and also comprised expenses linked to Part II expansion. Leamington area witnessed unusual conditions pertaining to the amount of sunlight it obtained.
Aphria reported that during the third quarter, the Leamington area got around 80% of the three-year mean of lumens for the respective period.