Quebec's provincially operated cannabis shops made $71 million in sales in their first year and sold the most cannabis in the country in terms of dollars and volume, but they still posted a $4.9-million loss to be covered by the provincial government.
The provincial cannabis corporation -- known as the SQDC -- said in a statement that the provincial government revenues from consumption and excise taxes totalled about $21.7 million between June 12, 2018 and March 30.
The Crown corporation said net expenses totalled $18.1 million, which included non-recurring start-up costs of $4.9 million. Without that one-time cost, the SQDC would have ended its fiscal year breaking even.
The SQDC says it expects to become profitable in the current fiscal year.