Canopy Growth reports smaller quarterly loss on lower costs, uptick in Canadian business ...Middle East

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Canopy Growth reports smaller quarterly loss on lower costs, uptick in Canadian business
Pot producer Canopy Growth WEED-T reported a smaller third-quarter loss on Friday, helped by cost cuts and an increase in revenue from its Canada business. Cannabis companies have been cutting costs and taking measures to reduce inventory to preserve cash and improve finances. Pot producers witnessed a slowdown after the pandemic as consumers cut back on spending amid elevated levels of inflation and on tough competition from illegal sellers. Canopy Growth said on Friday its Canadian business-to-business net revenue rose 9 per cent, while medical revenue climbed 11 per cent. The company’s gross margin for Canada cannabis segment improved to 28 per cent. Canopy Growth had raised doubts abou

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