Sales of legal cannabis skyrocketing at SQDC
Sales are up for legal sales of cannabis in Quebec.
Between June 21 and Sept. 12, the SQDC reported sales of 20,830 kilograms of cannabis for a revenue of $120.2 million. That's $56.6 million more than in the second quarter of the previous fiscal year.
The Crown Corporation's net income over that time period came to $15.1 million, an increase of $10.1 million.
The SQDC attributed the growth to its deployment plan, which saw 45 branches operating, compared to 20 at the same time last year. Despite the COVID-19 pandemic, officials remained confident the corporation would achieve its goals for the fiscal year.
The SQDC estimated it had converted nearly 50 per cent of the illicit cannabis market, based on a consumption estimate for Quebec of 150 tonnes.