Sundial Growers Inc (SNDL)

[Viewmont]

SNDL on Thursday reported an increase in fourth-quarter gross profit and higher revenue thanks to growth in its cannabis retail and operations units.

The New York-listed Canadian cannabis and liquor company reported a higher gross profit of 57.3 million Canadian dollars, or $42.5 million, up from C$43.6 million a year earlier.

Cash flow remained negative in the fourth quarter, but improved to a loss of C$6.9 million from a C$11.8 million loss in the prior-year period.

Net revenue in the quarter rose to C$248.5 million from C$240.4 million, and SNDL credited sequential growth in its cannabis retail and cannabis operations segments.

Chief Executive Zach George said that the fourth quarter capped off a successful year in which it achieved free cash flow in the second half of the year.