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Sativa Wellness Publishes 2020 Financial Statements
ACCESSWIRE
VANCOUVER, BC / ACCESSWIRE / May 3, 2021 / Sativa Wellness Group Inc. (CSE:SWEL) (
Sativa Wellness or the
Company ) wishes to announce the publication of its Financial Statements and Management, Discussion and Analysis report for year ended December 31, 2020.
The key highlights of 2020 can be summarised as follows:
2020 Financial Results
The turnover for 2020 was £1,994K (C$3,478K) which was a 38% increase on the previous year (£1,449K) and the gross profit margin at 56% was a 4% increase on the 52% of the previous year. This, in the year of a pandemic, was a great success.
The net deficit of £4,505K (2019: £3,797k) although still high, included a significant amount of transaction and consolidation costs that would otherwise not have been incurred given the reverse takeover of StillCanna Inc. (