CannTrust Holdings Inc. (GREY:CNTTF) reported positive income in the last three straight quarters amid its efficient management and investments in growth opportunities. After capturing significant market share in the medical cannabis market, the company is planning to expand its penetration into the adult recreational cannabis market to enjoy increasing demand.
CannTrust Holdings Expansion Strategies
It has been expanding its existing facilities combined with the allocation of resources in new facilities to support its growth plans. CannTrust has generated higher production yields from its Niagara Greenhouse Facility in the latest quarter – which allowed it to enlarge annual cannabis production ability from this facility to 50,000 kg.
CannTrust has also increased its Vaughan Facility to 60,000 square feet in the first quarter this year. This will allow the company to enhance its processing and manufacturing space to capitalize on growing demand from recreational markets.
It has introduced three different types of cannabis oil vegan hard shell capsules. The company has also entered into the pet market to offer cannabis products for the well-being of pets.
“We continued to experience dynamic growth in all areas of the Company, as we execute our business plan aimed at being a market leader and innovator in the development of products and services to better serve our patients and physicians, and to position us for the pending legislation to legalize the adult consumer recreational use of cannabis,” said Eric Paul CEO.
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Financial Numbers and Stock Performance
CannTrust financial numbers demonstrate that its business strategies are working. Its revenue for the first quarter rose 158% to $7.8 million compared to the past year period. Its earnings were standing around $0.12 per share from the loss of $0.01 per share in the year-ago period. CannTrust Holding stock price rose 28% in the last month alone, extending the twelve-month rally to 300%. Its stock currently trades around $6.5 per share – with the market capitalization of $622 million.
Featured Image: International Smoke
