AUSTRALIAN medicinal cannabis brand Little Green Pharma (LPG) has reported a record-breaking quarter, with $10.2 million revenue, up 40% on the previous quarter.
Cash receipts also rose over 40% to reach 10.8 million.
Net operating cash inflow of over $1.0 million has also resulted in a cash flow positive quarter of $0.6 million.
"With cash in the bank increasing to $4.8 million from $4.3 million, Little Green Pharma is well-positioned for continued expansion," according to a statement from the brand.
It is also predicted that LGP will save $500,000 a year from subcontracting Australian cultivation operations.
Growth in the European cannabis market in Germany, UK and France also continues to drive the brand and set it up for continued expansion.
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