Alcanna Reports Gross Margin Increase in Q4 Results

Alcanna (TSX:CLIQ) reported its results for the fourth quarter and year ended December 31, 2019.

As quoted in the press release:

For the year ended December 31, 2019 Alcanna achieved a 21.7% growth in total sales versus 2018. The fourth quarter sales increase was 21.5% over Q4 in 2018. Gross margin dollars for the year increased to $178.3 million – a 12.8% increase from 2018.

“Alcanna continued on course throughout 2019 with an aggressive strategy begun in 2018 to regain and grow market share in our core Alberta liquor business and to establish Nova Cannabis as a leader in the Canadian cannabis retail industry and we delivered on that strategy,” said James Burns Vice Chair and CEO.

Click here to read the full press release.