Celebrating 10 Years of Trusted News Discovery
One News Page
> >

THC Global's Canadian division boosts revenue 22% in March quarter

Proactive Investors Wednesday, 17 April 2019
THC Global Group Ltd's (ASX:THC) Canadian hydroponics equipment division Crystal Mountain increased revenue in the March quarter primarily due to stronger sales in the lighting and lighting equipment product ranges. Crystal Mountain grew revenue to $991,000, a 22% increase on the previous quarter.  New distribution agreements The division is also securing distribution agreements within Canada and has expanded into Europe and the United Kingdom. READ: THC Global Group expands into Asia with partnership As these distribution agreements are settled and products come on sale, the company expects to see stronger sales in these regions. Expanded product range Crystal Mountain has expanded its product range through distributing new products imported from partners across Canada, and soon internationally. The division is also exploring new sales channels including online cannabis-focused offerings targeted to the micro-cultivator market, which is rapidly increasing in Canada. THC Global chief executive officer Ken Charteris said: “We are pleased to see our hydroponics equipment division continue to grow, particularly through our partnership strategy as we are able to both expand our product offering and broaden our market reach - both of which are core drivers of revenue growth.” READ: THC Global Group opens SPP and notes near term milestones Earlier this month THC Global opened a share purchase plan offering shareholders to apply for up to $15,000 worth of additional shares at 50 cents each. The company also released its April 2019 briefing note, which highlighted the near-term outlook for the company including the receipt of final Australian cannabis licenses and permits enabling two manufacturing facilities and cultivation sites. Near-term outlook It also listed signing key offtake agreements for products and securing cannabis supply through domestic production in its near-term outlook. In addition to its core medicinal cannabis business, THC Global owns two Canadian companies - Crystal Mountain Products and Vertical Canna Inc. Crystal Mountain is a revenue-generating global hydroponics retailer and distributor of equipment, material, and nutrients to cannabis growers and producers. Vertical Canna is an investment vehicle through which THC Global intends to build, through acquisitions and strategic partnerships, a vertically integrated Canadian cannabis producer and retailer.
Credit: The Street - Published < > Embed
News video: Jim Cramer's Response to Netflix's Earnings

Jim Cramer's Response to Netflix's Earnings 01:23

Netflix said it added 9.6 million paid streaming subscribers in the first quarter, beating guidance of 8.9 million, but its outlook for the second quarter disappointed. First-quarter earnings of 76 cents a share rose from year-earlier profit of 64 cents. Revenue jumped to $4.5 billion from $3.7...

You Might Like

Recent related videos from verified sources

Jim Cramer's Reaction to Broadcom's Earnings [Video]Jim Cramer's Reaction to Broadcom's Earnings

Let's get into Real Money Stock of the Day Broadcom . The company reported fiscal third-quarter earnings of $5.16 a share, beating analysts' estimates but the chipmaker cautioned that a recovery in..

Credit: The Street     Duration: 01:26Published

Jim Cramer Breaks Down Broadcom, U.S.-China Trade War, Markets [Video]Jim Cramer Breaks Down Broadcom, U.S.-China Trade War, Markets

It's Friday, Friday, Friday... Jim Cramer weighs in on a possible U.S.-China trade deal, Broadcom post-earnings and the markets. Another Day, Another Trade Headline Or...three or four. Yesterday,..

Credit: The Street     Duration: 08:50Published

Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.