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Canadian licensed medical cannabis producers traded significantly higher yesterday on the heels of a strong fourth quarter earnings report from Aphria Inc. (APH.TO) (APHQF).
Aphria closed out the 2017 fiscal year by generating $2.8 million in EBITDA in the fourth quarter, a 181% increase when compared to the prior quarter. The 2017 fiscal year was a banner year for Aphria and we expect 2018 to be even more significant.
The greenhouse cannabis producer reported several milestones in the fourth quarter and we expect these events to help support continued growth. During the quarter, the company:
- Expanded its presence in the United States and entered Florida
- Increased its investment in and membership units in Copperstate