Shares of Aphria Inc. jumped by as much as 18 per cent as the cannabis company reported a profit of $16.4 million in its latest quarter — its second consecutive quarter of profitable growth. Aphria’s latest earnings beat the two cent per share loss expected by analysts, according to the financial markets data firm Refinitiv. Its adjusted earnings before interest, taxes, depreciation and amortization for the year are expected to be approximately $88 million to $95 million, it added. Aphria’s second-consecutive quarterly profit comes nearly one year after Canada legalized recreational pot and after a tumultuous period for the company. Aphria denied the allegations, and a board committee later reviewed the deals and deemed that they were within an acceptable range.

Source: thestar October 15, 2019 12:00 UTC