InterCure Ltd. (NASDAQ:INCR) (TASE:INCR) reported its financial and operating results for the six months ended June 30, 2024. The Israeli-based cannabis operator posted revenue of NIS 126 million ($34.58 million), compared to NIS 147 million in the second half of 2023. The company noted that the October 7th terror attack affected the company's revenues in the first half of 2024 due to damages to its southern facility located at Kibbutz Nir Oz.
“Yesterday, we announced the expansion of our strategic partnership with Cookies to the German market, the largest market in Europe, which is experiencing accelerated growth and becoming a key target market for Intercure," stated CEO Alexander Rabinovitch. "InterCure grew double-digit in the first half and presented profitable quarters, the 16th and 17th in a row. This consistent performance highlights our business model’s strength and commitment to leading the pharmaceutical cannabis market even in this challenging time. In the first half, we heavily invested in the restoration of the company’s main facility located at Kibbutz Nir Oz. The facility was damaged by the terrorist attack and is expected to gradually return to ...
