Canntrust Holdings (Grey Market: CNTTF) has generated significant financial and operational growth in the last couple of quarters and are now setting their foothold on the potential growth from recreational markets in Canada. Its revenue grew 158% year over year in the latest quarter to a record level of $7.5 million. Its earnings also remain in positive territory over the past three consecutive quarters.
The company, however, plans to expand its production potential both in the medical and recreational markets in the days to come.
Canntrust Plans to Expand Production Potential
To capitalize on an increasing demand, Canntrust has been expanding its facilities and working on acquisitions of small companies to achieve its growth plans.
The company’s strategy to enhance its production yield improved its production capacity to 50,000 kg at the Niagara Greenhouse Facility at the end of the latest quarter. The company has also enlarged its Vaughan Facility to 60,000 square feet, which will improve its processing and manufacturing space to capitalize on demand from recreational markets.
Aside from Canada, Cantrust Holdings has also been expanding in European and Australian markets. Its first shipment reached Australia last month, and the company executed a joint venture with Danish Company, Stenocare.
“We continued to experience dynamic growth in all areas of the Company as we execute our business plan aimed at being a market leader and innovator in the development of products and services to better serve our patients and physicians and to position us for the pending legislation to legalize the adult consumer recreational use of cannabis,” said Eric Paul CEO.
>>Aphria is Ready to Serve the Canadian Recreational Market
Cannabis Oil and Pet Products are Also in Focus
Canntrust, has also been diversifying its portfolio with the launch of vegan cannabis oil hard-shell capsules. Its focus has also moved towards the pet business as it recently agreed with Grey Wolf Animal Health Inc. to produce products for the well being of pets.
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