VFF - Village Farms +6% on solid Q3 results top-line up 12%

Village Farms International (VFF) reports Revenue growth of 12% to $43.4M in its Q3 results.The improvement in sales is due to an increase in pricing for tomatoes.The average net selling price for total tomato pounds sold increased 30% Y/Y, primarily as a result of a supply shortage throughout most of 2020, due to an increase in grocery store traffic, driven by COVID-19Q3 Adjusted EBITDA increased 59% to $4.6M due to an increase in gross margin.Net income of $0.5M, +171% Y/Y, EPS of $0.01.Pure Sunfarms net sales reached $17M, Adjusted EBITDA of $4.3M.Sales by Product Group: Retail, Flower: 48.5%; Retail, 2.0 Product: 4.5%; Wholesale, Flower and Trim: 47.0%."With 75% sequential growth in dollar sales, Pure Sunfarms' third quarter highlighted its strong sales momentum as its leading brand continues to resonate with consumers," said Michael DeGiglio, CEO, Village Farms.Pure Sunfarms brand achieves 15.2% Dried Flower market share (by volume) with Ontario Cannabis

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Village Farms +6% on solid Q3 results, top-line up 12%