The first quarter financial results of Cronos Group Inc (NASDAQ:CRON) for the period ended March 31, 2018 are finally out. The strategic initiatives unveiled way back in 2017 have finally come to fruition. It is rather evident that that last year was indeed a building block year and that is in close consideration of the fact that it was the basis of the remarkable results witnessed in the first quarter.
Gorenstein’s thoughts on the state of the company
The CEO of Cronos Group Mike Gorenstein opined, “Cronos is focused on continuing to increase capacity in order to serve existing distribution and newly established markets, developing intellectual property and launching recreational brands.”
In the first quarter of 2018 the sales amounted to $2.9 million and that was a 473% significant increase from what was recorded in 2017.
Cronos Group Inc will on Tuesday conduct a conference call and the goal will be hold a discussion regarding the first quarter 2018 results. If all goes according to plan, it will last for about an hour. Cronos Group has so far managed to establish its presence in about four continents. Some of its distribution platforms are situated in Australia, Israel and Germany.
Looking into ways to generate higher revenues
It is making plans to expand its presence worldwide not forgetting the development of its disruptive intellectual property. It hopes that by the set up of a number of the industry leading companies aimed at elevating the consumer experience as well as in the transformation of perception of cannabis it will be able to scale higher in terms generating higher revenues.
Just like the rest of the vibrant businesses around the globe, this business giant has been doing all within its means to sharpen its competitive edge in the market. It has paid quite a huge deal of focus to its internal management.
The appointment of Jim Rudyk to take up the position of the lead director is commendable .It is also seeking to retain Athena Advisors LLC which will be entrusted with the recording of the various corporate communications and investor relations.
Jim is expected to play an integral part in helping the company hit its set targets considering that he is a seasoned professional with great knowledge on the cultivation of corporate messaging.