ST. PAUL — The Office of Cannabis of Management (OCM) marked another milestone in the work to stand up the new agency and develop the operational and regulatory systems to
· Despite challenging conditions resulting from the pandemic, revenue was stable at £17.4m (constant exchange rates ( CER ) +1%): o Enterprise revenue increased by 6% (CER +7%) to £6.4 million (H1 FY 2020: £6.0 million) o Mobile revenue in line with prior period (CER +2%) at £5.8 million (H1 FY 2020: £5.8 million) o IT Asset Disposition ( ITAD ) revenue decreased by 7% (CER -7%) to £5.2 million (H1 FY 2020: £5.6 million) o The second quarter of FY21 was Blancco s highest revenue generating quarter in its history · Net cash balance of £8.2m (31 December 2019: £5.4m) · Adjusted Operating Cash Flow at 102% (H1 FY 2020: 53%) of Adjusted EBITDA following strong cash generation in the period · Strong growth in APAC which appears to be further progressed in its COVID-19 pandemic recovery: