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Aphria plummets after selling less cannabis in the third quarter



Shares of Canadian cannabis producer Aphria (APHA was less than 12% in premarket trading after the company fluctuated to a fiscal third-quarter loss despite rising revenues.

The company also reported a decrease in the number of kilograms sold to 2,636.5 from 3,408 However, the average selling price increased to C $ 8.03 per gram from C $ 7.51 per gram.

The price increase per gram was driven by increased sales of cannabis oil while the average price for adult cannabis fell to C $ 5.14 from C $ 6.32 due to The company's move to smaller package sizes.

The company reported an increase of 617% in sales for the year to $ 73.6 million, losing $ 81

.1 million in the quarter, 43 cents per share, having reported a profit of 8 cents a years earlier.

"I am proud of our over 1000 employees worldwide efforts, as we continue to position Aphria for f timely growth and success in the global medical and adult use industry, "I noted rwin D. Simon, chairman of Aphria and temporary executive. "Aphria will continue to drive sustainable long-term shareholder value by leveraging its strong brand positioning, superior distribution model, product innovation, industrial scale cultivation and automation, medical use leadership, and strategic global platform."

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