NB Liquor releases first-quarter results29 July 2016
FREDERICTON (GNB) – NB Liquor today released its audited financial results for the year ended March 27.
Total sales for the year were $410.4 million, up $16.5 million (4.2 per cent) from the previous year, which ended March 29, 2015. Net earnings increased by $6.3 million (3.8 per cent) to $171.6 million.
“The total volume for the year was 57.6 million litres,” said Brian Harriman, president and CEO of NB Liquor. “Both the number of transactions and the average basket size saw slight increases from last year, and there was growth in every product category.”
NB Liquor also released today its unaudited results for the first quarter ended June 26.
Total sales for the quarter were $101.9 million, 1.6 per cent higher than the quarter ended June 28, 2015.
Key product sales trends for the first quarter were:
- wine sales grew 5.4 per cent, up $1.1 million over last year;
- spirit sales increased 2.9 per cent, up $600,000;
- beer sales decreased 1 per cent, lower by $600,000; and
- other beverages grew 6.2 per cent, up $500,000.
“NB Liquor experienced another successful quarter, delivering growth in both dollars and volume in the first quarter,” said Harriman. “We are pleased with our in-store sales. To date, we have grown our business by $1.6 million in sales versus a year ago.”
NB Liquor is a provincial Crown corporation responsible for the purchase, importation, distribution and retail activity for all alcoholic beverages in the province. It serves the public and licensees through 44 corporate retail outlets, 84 private agency store outlets and 18 grocery stores selling wine. Its product portfolio comprises 1,938 products, including wines, spirits, beers and other products, such as cider and ready-to-drink products.
Over the course of the last 40 years, NB Liquor has built a network of stores which are strategically placed in 33 communities around the province. These communities benefit from the employment of New Brunswickers at NB Liquor stores. This totals about 620 people who live, work and invest in their communities.
The corporation also released the expenses of the board of directors and of the president and chief executive officer for the first quarter. The expenses are available online.