Liquor and cannabis retailer SNDL gains on higher Q2 revenue, smaller loss

SNDL

14/08/2023 12:45

** Canada-based liquor and cannabis retailer SNDL's shares
 SNDL.O  rise 5% to $1.67 in premarket trading
    ** Co reports Q2 revenue of $245 mln, up 9.3% from last year
    ** Quarterly net loss narrows to $33 mln from $74 mln last
year
    ** Says it has saved $18 mln in annualized costs from Valens
acquisition in Jan 2023 vs previous target of $10 mln in cost
savings
    ** In our cannabis operations, we have taken aggressive
cost-cutting measures, streamlined manufacturing operations and
reduced reliance on high-cost cultivation - SNDL
    ** Up to Friday's close, stock had fallen 23% YTD

 (Reporting by Arshreet Singh)
 ((Twitter: https://twitter.com/Arshreets))