New Brunswick’s government-owned marijuana retailer, Cannabis NB, posted its second consecutive profitable quarter, reporting a acquire of 1.four million Canadian {dollars} ($1 million) for the interval ended June 28.

Cannabis NB is the one authorized hashish retailer within the province, which has a inhabitants of roughly 780,000.

Total gross sales for the quarter had been CA$16.three million, a rise of 16% over the earlier quarter.

In an announcement, Cannabis NB president and CEO Patrick Parent attributed the improved quarterly outcomes to “aggressive cost-cutting measures (and) renegotiating prices with our suppliers which were passed on to our customers as well the addition of weekly promotions.”

Nearly 97% of gross sales came about in Cannabis NB’s 20 retail shops fairly than on-line.

In 2019, New Brunswick’s authorities introduced its plan to promote the retail chain to the non-public sector and attracted proposals from quite a lot of events.

New Brunswick Premier Blaine Higgs mentioned on Wednesday that the province remains to be examining those proposals.

“Having a return that is positive right now will be reflected in the value of Cannabis NB, but the process will continue,” Higgs mentioned, in keeping with the Canadian Broadcasting Corp.

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