Cannabis retailer and distributor Kiaro Holdings Corp. (TSXV: KO) reported record revenues of CA$17.1 million in 2021, representing a year-over-year increase of 230%.
Same-store sales spiked 58% over the same period.
Daniel Petrov, CEO of the Vancouver-based company, called 2021 "a transformational year for Kiaro."
"Our significant revenue growth for the fiscal year 2021 reflects the rapid scale of our business segments and the execution capabilities of the entire Kiaro team," Petrov said Tuesday.
Fiscal Year 2021 Financial Highlights
- The gross margin was 38.1% for retail operations, compared to 35% in 2020.
- General and administrative expenses dropped to 12% …