SQDC sales up slightly in the first quarter

SQDC sales up slightly in the first quarter< /p> UPDATE DAY

The Société québécoise du cannabis (SQDC) slightly increased its sales, during the first quarter of 2022, compared to the same period last year. 

According to the SQDC's financial results released on Monday, the company made a net profit of $20.5 million during the first quarter, which ended on June 18. This amount, to which are added various taxes collected on cannabis, enabled the company to generate $54 million for the Quebec government.

In total, the SQDC generated sales totaling $139 million between on March 27 and June 18, compared to $136.5 million during the first quarter of the previous fiscal year.

The company sold 25,050 kg of cannabis during this quarter.

During this period, the SQDC opened two new branches, in Montreal and Gaspé, thus totaling, as of June 18, 2022, 89 branches and 1,051 employees within the company.

Note that the SQDC had 68 branches at the same date last year.