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InterCure Ltd. (NASDAQ:INCR) (TASE: INCR), which is doing business as Canndoc, reported its financial and operating results on Thursday for the three and six months ended June 30, 2023,
"The first half of 2023 is another solid performance for InterCure, with year-over-year revenue growing 14% and an adjusted EBITDA margin of 14%," InterCure CEO Alexander Rabinovitch said. "I am proud of our team's ability to execute despite some challenging market conditions when big players are exiting the space."
"We continue to optimize our operations for continued growth supported by our leading position. We are encouraged by the new regulations in Israel and Germany as pharmaceutical cannabis becoming a world standard across Europe and many other territories," Rabinovitch continued, "We are also keeping an open eye on the U.S. Department of Health and Human Services scientific and medical evaluation, supporting cannabis to be classified as a Schedule III drug by the DEA and the opportunities it may generate to InterCure."
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InterCure's shares traded 1.86% higher at $1.64 per share during the pre-market session on Friday morning.
Photo: Courtesy of Emilio Takas on Unsplash
Posted In: INCR