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Ecofibre warns on more US disruption, forecasts a full-year loss

Carrie LaFrenz
Carrie LaFrenzSenior reporter
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Key Points

  • Revenue: $14.7 million (down 49.5%)
  • Pre-tax profits: -$7.6 million (down 188.6%)
  • Net profit: -$5.5 million (down 178%)
  • Interim dividend: nil

Ecofibre chief executive Eric Wang has blamed disruption in United States pharmacies for a plunge in sales of the company’s medical cannabis products and says the uncertainty is set to continue as the retail outlets prioritise COVID-19 testing and vaccinations.

Mr Wang said the situation in the US was “chaotic”, with people jumping the queue to get vaccinated.

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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
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    Original URL: https://www.afr.com/companies/healthcare-and-fitness/ecofibre-warns-on-more-us-disruption-forecasts-a-full-year-loss-20210209-p570y9