The Société québécoise du cannabis (SQDC) has posted enormous profits during its first quarter of 2020. For their part, Quebecers bought 18,922 kilograms of weed between March 29 and June 20, 2020 — the first few months after lockdown.
No doubt an essential service to Quebecers from all walks of life, the SQDC was incredibly busy during those four months. The SQDC's sales totalled $110.4 million dollars, for a net income of $9.7 million.
Total SQDC Sales Between March 29 and June 20
Despite a decrease in retail traffic, the SQDC made around two million in-store transactions between March and June. A total of around 190,000 online transactions were processed.
"The SQDC estimates that it has acquired more than 40% of the illegal market, based on an estimated total annual consumption of 150 metric tons for Quebec," the company said in a press release.
Now, with same-day delivery available all across Montreal, the SQDC hopes to take over even more of the illegal cannabis market.