The Globe and Mail reports in its Saturday edition that Canopy Growth posted a smaller third quarter loss on Friday, helped by cost cuts and improved revenue from its Canadian business. A Reuters dispatch to The Globe reports that cannabis companies have been cutting costs and taking measures to reduce inventory to preserve cash and improve finances. Pot producers witnessed a slowdown after the pandemic as consumers cut back on spending amid elevated levels of inflation and on tough competition from illegal sellers. Canopy said on Friday that its Canadian business-to-business net revenue rose 9 per cent, while medical revenue climbed 11 per cent. The company's gross margin for its Canada cannabis segment improved to 28 per cent. Canopy had raised doubts about the company's ability to continue as a going concern last year, as it struggled to turn profitable and later sold its sports nutrition products unit Biosteel after seeking bankruptcy protection for it. The company said it reduced overall debt by $69-million during the reported quarter. Net loss attributable to the company fell to $216.8-million for the quarter ended Dec. 31. That compared with a loss of $259.5-million a year earlier.