Im Cannabis Corp (TSE:IMCC) has released an update.
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IM Cannabis Corp reported a 10% decrease in annual revenue for 2023, totaling $48.8 million, attributed to the negative effects of currency fluctuations and the Israel-Hamas conflict on its operations. Despite the revenue decline, the company saw a 7.5% increase in gross profit for the year, reaching $9.8 million. However, general and administrative expenses, as well as selling and marketing costs, significantly dropped, contributing to a leaner operational structure.
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