Kanabo Group Pretax Loss Narrows on Sales Increase

By Najat Kantouar

Kanabo Group has reported a narrowed pretax loss for the first half-year as revenue rose up by 88%, boosted by sales in existing markets while looking for expansion opportunities.
The medical-cannabis company said Friday that pretax loss for the six months ended June 30 was 1.6 million pounds ($1.7 million) compared with a loss of GBP3.8 million for the same period a year earlier.

Revenue rose to GBP449,000 from GBP239,000.
Operating loss reduced by 63% to GBP1.4 million from GBP3.7 million
“We’re exploring opportunities to expand beyond pain management into other medical fields with significant unmet demand. As we look ahead, our focus remains on growing our patient numbers and revenue while staying committed to personalized, accessible healthcare,” Chief Executive Officer Avihu Tamir said.
The board remains confident in both the short and medium-term prospects for the company.
Write to Najat Kantouar at [email protected]