30.01.2023 13:26:28
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Flora Growth Anticipates 2023 Revenue Growth To Exceed 100%; To Meet 2022 Guidance
(RTTNews) - Flora Growth Corp. (FLGC) announced revenue guidance of $90 million to $105 million for fiscal 2023. The company noted that the revenue guidance reflects expected organic growth in the House of Brands division and expansion of the Commercial & Wholesale division capabilities. The company expects the House of Brands and Commercial & Wholesale divisions will have roughly equal contributions to the top line, while the Pharmaceutical division is expected to contribute up to 10% of total revenue.
Luis Merchan, CEO of Flora, said: "We will meet our guidance for 2022. Our 2023 forecasted revenue range represents anticipated growth in excess of 100% over last year."
Shares of Flora Growth are up 37% in pre-market trade on Monday.
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