Little Green Pharma's Financial Performance for FY24

Little Green Pharma Ltd (LGP) (ASX: $LGP) has released its audited financial results for the year ended 31 March 2024. The company's revenue from ordinary activities increased by $5,772,707 to $25,631,830 compared to the previous year. The loss after tax from continuing operations includes various expenses such as share-based payments, depreciation, and fair value movement in biological assets. The net operating cash flow for the year ending 31 March 2024 was a net positive amount of $66,791. The company did not propose any dividends for the current or prior year. There were no changes in ownership of controlled entities during the period, and all subsidiaries use International Financial Reporting Standards. The financial report contains an Independent Auditor's Audit Report with an emphasis of matter on going concern.

Executive Commentary on LGP's Strategic Direction and Achievements

Little Green Pharma's strategy for FY24 included patient acquisition, international sales, and product insights and drug delivery. The company focused on cultivation and manufacturing operations in Denmark and Australia, aiming for new product growth, capacity expansion, genetics development, and quality improvement. LGP achieved sales revenue growth in Australia and Europe, expanded its distributor base, and launched new products. The company also engaged with health practitioners, leading to a nomination for various Cannabiz 2024 Awards. Research and innovation efforts included participation in clinical studies, publications, the launch of the Global QUEST Initiative, and a psychedelics clinical trial. LGP's environmental, social, and governance (ESG) initiatives aim to drive sustainable growth and create long-term value for stakeholders. The Board of Directors, with diverse backgrounds, highlighted the company's operations and financial outcomes in the Directors' report.

Overview of Little Green Pharma's Annual Report and Market Position

Little Green Pharma Ltd (LGP) has reported a 29% increase in revenue for FY24, reaching $25.6 million. The company's strategic direction focused on patient acquisition, international sales, and product insights and drug delivery. Operational activities included cultivation and manufacturing operations in Denmark and Australia, with a strong emphasis on new product growth, capacity expansion, genetics development, and quality improvement. LGP achieved sales revenue growth in Australia and Europe, expanded its distributor base, and launched new products. The company's research and innovation efforts, along with its environmental, social, and governance (ESG) initiatives, aim to drive sustainable growth and create long-term value for stakeholders. The release of the Annual Report provides insights into LGP's financial performance, strategic milestones, and shareholder structure, offering a comprehensive overview of the company's operations and market position.