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CANNABIS INDUSTRY 

BREAKING  NEWS

Labat Turns the Corner - Expected to Post a Profit for Past 6 Months as Sweetwater Revenue Kicks In

Labat Turns the Corner - Expected to Post a Profit for Past 6 Months as Sweetwater Revenue Kicks In

Labat Africa has advised shreholders that it will reflect a profit for the six months ending in November 2022 with earnings a share likely to be 0,2 cents co pared to the loss of 4,2 cents for the previous corresponding period.

Cannabiz Africa

14 March 2023 at 08:00:00

Shareholders in JSE-listed Labat have endured a roller coaster ride but it seems that finally their patience - and investment - may be paying off. Labat  issued a trading statement on SENS on 9 March 2023 advising that “the company will reflect a profit for the six months ended 30 November 2022 compared to a loss in the comparable period.

”The earnings per share is expected to improve by 104.65% to 0.2 cents when compared to theloss per share of (4.3) cents for the corresponding prior period. The headline loss per share is expected to improve by 76.7% to (0.1) cents when compared to the headline loss per share of (4.3) cents for the corresponding prior period.”


Labat, which is also listed on the Frankfurt Stock Exchange, has been losing cash at a rate of knots as  it’s struggled to turn its first mover advantage in the SA cannabis industry into actual profit. Although the trading statement gives no further details. Labat's CEO Brian van Rooyen has previously said that its subsidiaries, Sweetwater Aquaponics cultivation facility in the Eastern Cape and its retail brand Cannafrica, had become profitable divisions.The SAHPRA-licensed Sweetwaters has succesfully fulfilled offtake agreements for Australian and Swiss clients

Labat said the financial information had not been reviewed or reported on by its external auditors and reminded shareholdrs that that the company changed its year end from 31 August 2022 to 31 May 2022 and so the comparative period was the interim results for the six months ended 28 February 2022 (“comparable period”).”


READ: Labat's Maasdorp: Government inaction a scathing indictment as R107 billion of value in the cannabis industry waits to be unlocked.

Goodleaf says SAHPRA restrictions on dosages and packaging have pushed it into an uncompetitive corner. It says it's pulling its range off the shelves until there's more regulatory certainty in the cannabis market.

Regulatory Uncertainty Bites SA's Biggest CBD Brand, Goodleaf Temporarily Pulls It Range From The Shelves

Goodleaf says SAHPRA restrictions on dosages and packaging have pushed it into an uncompetitive corner. It says it's pulling its range off the shelves until there's more regulatory certainty in the cannabis market.

For the first time non-government stakeholders in the cannabis industry will have a formal seat at the policy table

The Presidency Unveils New Structure to Align Cannabis Stakeholders on Future Policy

For the first time non-government stakeholders in the cannabis industry will have a formal seat at the policy table

Government has the capacity to invest in strategic parts of the cannabis value chain but says that it's looking to the private sector to cough up most of the cash to kick-start the new sunrise sector.

SA Cannabis Finance ‘Eco-System’: The Phakisa Acknowledges That Private Sector Has to Lead the Way

Government has the capacity to invest in strategic parts of the cannabis value chain but says that it's looking to the private sector to cough up most of the cash to kick-start the new sunrise sector.

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