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Sativa Wellness Group Announces Filing of Q1 2021 Financial Statements
ACCESSWIRE
25 May 2021, 21:31 GMT+10
VANCOUVER, BC / ACCESSWIRE / May 25, 2021 / Sativa Wellness Group Inc. (CSE:SWEL) ( Sativa Wellness or the Company ) announced today it has filed financial statements and management s discussion and analysis. All amounts unless stated otherwise are presented in British Pounds (GBP).
The Company has maintained its presence within the CBD sector producing both quality isolate and distillate in Poland for the CBD market as well as continuing to produce a range of quality end products through its ‘Goodbody brand in the UK.
The Company also exceeded the targets set to meet its ambition of diversifying within the Wellness sector through the rollout of 30 COVID testing clinics. This has proved the strategy which will be built upon over the rest of the year.
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.
Sativa Wellness Group Announces filing of Q1 2021 Financial Statements Sativa Wellness Group Inc. is pleased to announce that it has filed the Financial Statements and Management s Discussion and Analysis for Q1 March 2021. All amounts unless stated otherwise are presented in British Pounds (GBP). The Company has maintained its presence within the CBD sector producing both quality isolate and distillate in Poland for the CBD market as well as continuing to produce a range of quality end products through its Goodbody brand in the UK. The Company also exceeded the targets set to meet its ambition of diversifying within the Wellness sector through the rollout of 30 COVID testing clinics. This has proved the strategy which will be built upon over the rest of the year.
Sativa Wellness Group Inc.: Sativa Wellness Group Announces Filing of Q1 2021 Financial Statements
VANCOUVER, BC / ACCESSWIRE / May 25, 2021 / Sativa Wellness Group Inc. (CSE:SWEL) ( Sativa Wellness or the Company ) announced today it has filed financial statements and management s discussion and analysis. All amounts unless stated otherwise are presented in British Pounds (GBP).
The Company has maintained its presence within the CBD sector producing both quality isolate and distillate in Poland for the CBD market as well as continuing to produce a range of quality end products through its Goodbody brand in the UK.
The Company also exceeded the targets set to meet its ambition of diversifying within the Wellness sector through the rollout of 30 COVID testing clinics. This has proved the strategy which will be built upon over the rest of the year.