In the second part of an exclusive interview with Cannabiz, Cann Group chief operating officer Shane Duncan suggests the business will hit a rhythm in 2021 and says the industry must ‘put its big boy pants on’ to get products registered.
In delivering Cann Group’s interim financial results this week, chief executive Peter Crock spoke of the strong fundamentals underpinning the business.
While half year losses may have worsened to $9.4m, and its full-year revenue targets will be missed due to Covid-related regulatory delays, he insisted the foundations are solid.
“While the delays are frustrating, it’s clear that demand for Australian TGA-GMP quality product is strong and the fundamentals of our business remain unchanged,” Crock said.
“We are really pleased with the foundations we’ve continued to build at Cann. We’re executing on key elements of our strategy and have a busy and exciting year ahead.”
For chief operating officer Shane Duncan, it’s a year that needs “rhythm”.
And key to achieving that will be overcoming those regulatory frustrations.
It is delays to administrative processes – gruelling at the best of times – that Cann says has slowed progress in selling products in Germany, via distribution partner iuvo, and led to the revenue downgrade.