Sales of legal cannabis skyrocketing at SQDC

MONTREAL — Sales are up for legal sales of cannabis in Quebec.

Between June 21 and Sept. 12, the SQDC reported sales of 20,830 kilograms of cannabis for a revenue of $120.2 million. That's $56.6 million more than in the second quarter of the previous fiscal year.

The Crown Corporation's net income over that time period came to $15.1 million, an increase of $10.1 million.

The SQDC attributed the growth to its deployment plan, which saw 45 branches operating, compared to 20 at the same time last year. Despite the COVID-19 pandemic, officials remained confident the corporation would achieve its goals for the fiscal year.

The SQDC estimated it had converted nearly 50 per cent of the illicit cannabis market, based on a consumption estimate for Quebec of 150 tonnes.