VFF - Village Farms Reports Record Q1 Canadian Cannabis Sales Following 49% YoY Increase Continues To Strengthen International Presence | Benzinga
Village Farms International, Inc. (NASDAQ:VFF) reported its financial results on Wednesday for the first quarter ended March 31, 2024, revealing a new record with Canadian cannabis sales increasing 49% year-over-year to $37.4 million.
"The first quarter was an especially strong start to 2024," said Michael DeGiglio, president and CEO of the company. "Our success in quality, innovation and brand building, together with the support of our provincial boards and retail partners, are driving these results as we delight our consumers."
Village Farms gained EU GMP certification from the District Government of Dusseldorf in 2022 and began shipping its best-selling Canadian strains to Germany in the second quarter of 2023.
DeGiglio, who has spoken at previous Benzinga Cannabis Capital Conferences, recently celebrated Germany's historic step towards cannabis legalization. Approvals from both the German Bundesrat and Bundestag legalized the possession of marijuana as of April 1.
The 19th Benzinga Cannabis Capital Conference, is returning to Chicago this Oct. 8-9. Get your tickets now before prices surge by following this link.
"The German cannabis market is already core to Village ...