IMCC - IM Cannabis Doubles Down On Germany Following Legalization Policy Change Reports YoY Drop In Q1 Gross Profit And Revenue | Benzinga
IM Cannabis Corp. (NASDAQ:IMCC) (CSE:IMCC) reported a 13% sequential increase in revenue for the three months ended March 31, 2024, hitting CA$10.7 million ($7.8 million). That is, however, a 4% decrease compared to the same quarter of last year.
Oren Shuster, the company's CEO, said IM Cannabis will double down on Germany now that recent approvals from both the German Bundesrat and Bundestag legalized the possession of marijuana.
“With the April 1st cannabis legalization in Germany, we are augmenting our focus and resources on the German market, where we expect to see the biggest growth potential and the best return on investment," Shuster said. "While it is still too early to make any predictions, our sales in Germany almost doubled during April.”
See also: IM Cannabis’ Q4 Revenue: Gross Profit Drops Due To Negative Impact ...