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Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 198,115,363
Close 2021-09-28 C$ 8.64
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FP/wire say Aurora's Martin hopes for profits in 2023

2021-09-29 09:45 ET - In the News

The Financial Post reports in its Wednesday edition that Aurora Cannabis's top boss Miguel Martin expects the company to be profitable on a core basis in the first half of 2023, helped by $60-million to $80-million in cost savings. A Reuters dispatch to the Post says that more than three years into Canada's legalization of recreational cannabis, most large producers continue to post losses due to fewer-than-expected retail stores, cheaper rates on the black market and sluggish overseas growth. Aurora said last week that it would shut down a grow operation in Edmonton. "We have absolutely the right infrastructure and the right head count so we don't foresee anything, you know, in the short term," Mr. Martin told Reuters when asked if the company plans to lay off more employees or shut facilities as part of the cost-saving strategy. Shares of the company closed at $8.63 Tuesday, up 56 cents on the Toronto Stock Exchange.

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