#CannabisNBTurnsaProfit

[licensedproducers]

Cannabis NB Turns a Profit

Government-Run Cannabis Retailer Still For Sale – LPC

The somewhat surprising news came last week: Cannabis NB turns a profit. The government-run cannabis retailer announced a $500,000 profit on $14 million over 13 weeks ending March 29. It was the first profit since it launched in October 2018. It lost $17.3 million since then – a big part of the reason why it went up for sale. The move came last year, shortly before New Brunswick showed a 40 per cent decline in cannabis sales in September. The unexpected profit likely won’t change the government’s mind about selling off the agency. A spokesperson last year called the move fiscally responsible to save taxpayer money. "The government has made this commitment,” said Brad Poulos, an instructor in the Ted Rogers School of Management at Ryerson University in Toronto. “The smartest thing would be for them to go ahead with it unless of course the proposals are wholly inadequate." The CBC article (see link below) did not link the fact that Cannabis NB turns a profit with COVID-19. However, the outbreak did delay the evaluation process, which is expected to continue soon. It’s unclear whether privatizing Cannabis NB will make it more profitable. However, provinces that have a decentralized model of retail cannabis such as Alberta tend to have a more robust cannabis market. This editorial content from the LPC News Team provides analysis, insight, and perspective on current news articles. To read the source article this commentary is based upon, please click on the link below. Click here to view full story at www.cbc.ca Read the full article