Quarterly Activities Report and Appendix 4C
| Stock | Little Green Pharma Ltd (LGP.ASX) |
|---|---|
| Release Time | 31 Jan 2025, 8:33 a.m. |
| Price Sensitive | Yes |
Little Green Pharma Reports Strong Q1 Results
- Revenue of $9.5 million, up 75% year-over-year
- Cash receipts of $10 million, up 90% year-over-year
- FY25 Q3 revenue of $27 million already exceeds prior full year revenue
Little Green Pharma Ltd (ASX: LGP) has reported its quarterly activities and Appendix 4C for the quarter ending 31 December 2024. The company delivered strong results, with revenue of $9.5 million (unaudited), up 75% on the prior corresponding period, and cash receipts of $10 million, up 90% on the prior corresponding period. Additionally, the company's FY25 Q3 year-to-date revenue of $27 million (unaudited) has already surpassed its prior full year revenue of $25.6 million. The company saw strong growth in its European and UK markets, with $1 million in German flower sales in December and $6 million in binding purchase orders from Germany and the UK over the coming two quarters. The company also launched its new Lush Labs craft flower brand, three new oil products, and one vaporiser product. The company completed the due diligence acquisition of Health House and is negotiating a sale and purchase agreement. The company's cash position stood at $3.7 million at the end of the quarter.
The company reported revenue of $9.5 million (unaudited) for the quarter, up 75% on the prior corresponding period, and cash receipts of $10 million, up 90% on the prior corresponding period. The company's FY25 Q3 year-to-date revenue of $27 million (unaudited) has already surpassed its prior full year revenue of $25.6 million.
The company is well-positioned to capture growth in the European and UK markets, with the German cannabis reform expected to drive significant market growth. The company is also expanding its product portfolio with the launch of new brands and products, and is pursuing strategic acquisitions to further strengthen its position.