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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Aphria Inc    APHA   CA03765K1049

APHRIA INC

(APHA)
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Cannabis producer Aphria profit surges on strong demand, investment gains

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10/12/2018 | 07:48am EST

(Reuters) - Cannabis producer Aphria Inc posted a 41 percent rise in quarterly profit on Friday, boosted by strong demand and gains from its investments in medical marijuana companies Liberty Health Sciences and Hiku Brands Co.

Canada is set to become the first major economy to legalize recreational marijuana on Oct. 17 and shares in cannabis producers have rallied in anticipation.

The burgeoning Canadian marijuana industry has attracted interest from major U.S. firms. Walmart Inc's Canadian unit said on Tuesday it was exploring the possibility of selling cannabis-based products, but has no immediate plans to get into the business.

Last month, Coca-Cola Co said it was closely watching the marijuana drinks market for a possible entry.

Aphria is in talks to sell a stake in the company to Marlboro maker Altria Group Inc, the Globe and Mail reported earlier this week, citing multiple sources. Aphria, however, said no agreement had been reached.

Aphria's net income rose to C$21.2 million, or 9 Canadian cents per share, for the three months ended Aug. 31 from C$15.0 million, or 11 Canadian cents per share, a year earlier.

The company said its revenue more than doubled to C$13.29 million, helped by higher wholesale orders.

(Reporting by John Benny in Bengaluru; Editing by Anil D'Silva)

Stocks mentioned in the article
ChangeLast1st jan.
ALTRIA GROUP 2.24% 51.5 Delayed Quote.4.27%
APHRIA INC -2.92% 13.31 Delayed Quote.69.55%
COCA-COLA COMPANY (THE) -1.26% 45.28 Delayed Quote.-4.46%
WAL-MART STORES 0.16% 99.55 Delayed Quote.7.34%
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Financials (CAD)
Sales 2019 257 M
EBIT 2019 -
Net income 2019 86,0 M
Finance 2019 168 M
Yield 2019 -
P/E ratio 2019 39,15
P/E ratio 2020 29,25
EV / Sales 2019 12,3x
EV / Sales 2020 4,17x
Capitalization 3 330 M
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Number of Analysts 10
Average target price 16,3  CAD
Spread / Average Target 22%
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NameTitle
Victor Neufeld Chief Executive Officer & Director
Jakob Ripshtein President
Irwin David Simon Independent Chairman
Cole Cacciavillani Director & Vice President-Growing Operations
Carl A. Merton Chief Financial Officer
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