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Althea Group Holdings Ltd. ( (AU:AGH) ) has issued an announcement.
Althea Group Holdings reported $9.01 million in customer receipts for the quarter ending December 2024, marking a 20% increase over the previous quarter, although sales did not meet budget expectations, prompting a review of the FY25 market guidance. Significant corporate governance issues led to a suspension of shares, but efforts have been made to rectify these, including a Federal Court hearing scheduled for January 2025. Operationally, the company saw a complete inaugural manufacturing run in the US and infrastructure upgrades in Canada. Strategic reviews and cost reductions, including the sale of MyAccess Clinics, are set to result in considerable annual savings, strengthening Althea’s financial position.
More about Althea Group Holdings Ltd.
Althea Group Holdings Limited (ASX:AGH) is a global leader in the manufacturing, sales, and distribution of cannabis-based medicines and recreational cannabis products. The company operates through subsidiaries like Peak Processing Solutions and Althea, focusing on both recreational and pharmaceutical cannabis markets.
YTD Price Performance: 13.33%
Average Trading Volume: 691,556
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$13.78M
For a thorough assessment of AGH stock, go to TipRanks’ Stock Analysis page.
