Canadian cannabis company Tilray reports US$52.5-million profit amid higher sales in latest quarter

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Tilray’s earnings for the three months ended Feb. 28 amounted to nine cents per share US, up from a loss of US$1.03 per share the year before

The company recorded net revenue of US$151.9-million for the quarter, up from US$123.9-million in the same quarter last year, driven by increases in cannabis, beverage alcohol and wellness product sales.

Irwin D. Simon, Tilray’s chairman and CEO, says the company’s third quarter results reflect progress and momentum across Tilray’s key business segments and geographies. He says Tilray’s recent deal to take a stake in rival Hexo Corp. will “facilitate complementary commercial and product innovation and drive production and operating efficiencies.”

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