Aphria CEO Confident of Revenue Surge, Snubs Green Growth
- Chairman and interim CEO Irwin Simon rebuffs Green Growth bid
- ‘The short-seller report was a wake-up call,’ Simon says
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Aphria Inc. plans to reach C$1 billion ($746 million) in revenue by the end of 2020 and doesn’t need the help of Green Growth Brands Inc. to do it, according to the pot firm’s new chairman.
Irwin Simon intends to boost revenue from an estimated C$209 million in the fiscal year that ends May 31, and achieve margins of at least 40 percent. His plan relies on increased production at Aphria’s Canadian operations, which are currently only running at about 18 percent of potential capacity as some await licenses and others ramp up, he said.