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The Société québécoise du cannabis (SQDC) has reported $1.36 million in net profits for this past quarter, which closed on June 22nd.
This adds up to a total of $45.1 million in sales.
The brick-and-mortar stores were more popular than the website. Outlets registered a total of $39.5 million in sales, while the website registered $5.6 million.
As for quantity, the SQDC sold 6,264 kgs of cannabis, of which 5,512 were sold in outlets and 752 online.
READ MORE:
Quebec cannabis sales raked in $71 million in first year
However, online orders are more substantial. The average sale in an outlet is $46.53 while the average online sale is $82.28.
During this past quarter, the SQDC opened three new outlets in Joliette, Gatineau and Granby. It now boasts a total of 16 outlets across the province.
According to its quarterly report, the SQDC’s main expenses were on salaries, which totaled $3.4 million. Operation costs reached $2.3 million.
The cannabis society also added new providers to its roster to offer more products and provide a stable supply.
READ MORE:
Quebec cannabis stores set to open 7 days a week
Shortly after opening, the SQDC had to slash its opening hours because there was not enough supply to satisfy the demand of consumers.
In May, the government-run organization started running every day after managing its supply issues.
— With files from La Presse Canadienne
WATCH: (Feb. 19, 2019) Quebec cannabis commission meets
© 2019 Global News, a division of Corus Entertainment Inc.
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