Hemp company Ecofibre has swung into the red for the full fiscal year as COVID-19 hits its key Ananda Health business in the United States.

The group, which warned in February that a major disruption of US pharmacies would lead to a plunge in sales of the company’s medical cannabis products, revealed a $7 million loss for the full year compared with a $13.2 million profit the year before, in line with guidance (before February it said it would break even in 2020-21.)