the cannabis company,
Intercure
+2.78%
Base:1,727
opening:1,727
High:1,775
low:1,660
change:805,751
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which is managed by Alex Rabinowitz and its chairman is Ehud Barak, manages to grow and reach a significant sales mass and this is at a time when the local cannabis companies are looking for themselves and some of them are becoming skeletons and merging with other activities. Dual Intercure reports that revenues in the third quarter reached 39 million Canadian dollars (a record of over NIS 100 million).
This is the 11th quarter in a row of profitable growth with revenue growth expected, according to its managers, to continue in the fourth quarter of this year. The published results are preliminary, with the full results expected on November 15.
The revenues in the third quarter express an increase of 63% compared to the corresponding quarter last year. Also, this is a growth of 6% from quarter to quarter – that is, in relation to the second quarter. The company’s sales rate reaches 155 million Canadian dollars per year, which is over NIS 400 million – far above all local competitors in the field of cannabis.
The company’s management stated that the increase in revenues comes against the background of strong demand for Candoc’s branded products and the expansion of the company’s medical cannabis distribution activity, along with the continued expansion of the company’s branded product portfolio, compliance with import standards and the continued expansion of the company’s network of pharmacies dedicated to medical cannabis to 25 locations for the end of the third quarter.
Intercure shares have lost 14% since the beginning of the year to a price of approximately NIS 17.8 per share. The value of the company is about NIS 800 million. The EBITDA in the previous quarter exceeded 8 million Canadian dollars (20 million NIS).
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Quarterly growth over time:
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