Sativa Wellness Group Inc (AQSE:SWEL, CSE:SWEL, OTC:SCNNF) said the third quarter was another profitable one, with underlying earnings (EBITDA) clocking in at £268,000.
This represented an improvement on the preceding quarter’s EBITDA of £82,000 and a turnaround from an underlying loss of £595,000 in the same quarter of 2020.
Revenue in the three months to the end of September rose to £5.02mln from £465,714 the year before. Revenue on the first nine months of 2021 soared to £9.88mln from £1.20mln in the same period of 2020.
The company said it has continued to exceed all targets set to meet its ambition of diversifying within the Health and Wellness sector by offering wellness testing through a network of Goodbody clinics. Currently, Sativa has more than 80 clinics in operation and it is rolling out a range of additional tests to supplement its COVID testing.
“I am so pleased the significant growth of the business accelerated through Q3. We are exceeding expectations and the strategy introduced earlier in the year continues to validate our mission to deliver to consumers and partners a diverse health and wellness company,” said Geremy Thomas, the executive chairman of Sativa.
“Whilst we remain cautious in managing our CBD [cannabidiol] investment, focussing on 'Best Price, Best Quality, our work with our pharmacy partners in creating local community diagnostic hubs continues, consistent with the published NHS long-term plan,” he added.