Sales rocketed 377% to £1.3mln in the three months to 31 March
Sativa Wellness Group Inc. (LON:SWEL) said the second quarter has started “very strongly” after posting some “satisfying” first-quarter numbers.
In the three months to 31 March, the CBD company posted a 377% increase in revenue to £1.3mln, with gross profit up 234% to £707,000.
Adjusted underlying loss was halved to £404,000 and loss per share was 63% lower at 0.3p.
The group also submitted a novel food application to the Food Standards Agency ahead of the 31 March 2021 deadline.
Post-period, Sativa announced that subsidiary Phytovista Laboratories was granted accreditation for competence of testing, while Goodbody Botanicals was listed on the UK government website to offer 2- and 8-day quarantine tests for travellers returning to the UK, offering a significant opportunity for the 30 COVID testing clinics.