Ecofibre Limited Reports Unaudited Earnings Results for the Fourth Quarter and Full Year 2020
July 19, 2020 at 09:43 pm EDT
Ecofibre Limited reported unaudited earnings results for the fourth quarter and year 2020. For fourth quarter 2020, revenue was $7.5 million, down from $14.2 million in the prior quarter as a result of difficult trading conditions in the US CBD market. A series of events that will likely reshape business and consumer behaviours in the future impacted revenues with larger distributors and independent pharmacies alike.
For the year, NPAT approximately $12.5 million up over 100% on 2019, Revenue of $50.7 million up over 40% on 2019.