REVISED / NB Liquor releases audited financial results for 2016-17 and first-quarter results31 July 2017
FREDERICTON (GNB) – NB Liquor today released its audited financial results for the fiscal year ended March 26.
Total sales for the year were $415.1 million, up $4.7 million (1.1 per cent) from the previous fiscal year. Net earnings were $168.4 million.
“I am pleased that NB Liquor continues to grow in total sales year-over-year,” said Brian Harriman, president and CEO of NB Liquor. “This is an indication that our strategy of the proper mix of retail channels, product selection, and our customer service and centric approach is delivering according to plan.”
NB Liquor also released its unaudited results for the first quarter ended June 25.
Total sales for the quarter were $101.8 million, 0.1 per cent lower than the quarter ended June 26, 2016.
Key product sales trends, compared to last year, for the first quarter were:
- wine sales were 6.9 per cent higher, up $ 1.5 million;
- spirit sales decreased 0.8 per cent, down $200,000;
- beer sales decreased by 3.1 per cent, lower by $1.6 million; and
- other beverages (coolers and ciders) increased by 2.8 per cent, higher by $200,000.
“NB Liquor is pleased to be able to continue to execute its growth trend in the wine and other beverages categories,” said Harriman. “First-quarter results indicate that we are on plan to continue to execute our growth strategy for this fiscal year.”
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.
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 43 corporate retail outlets, 85 private agency store outlets and 44 grocery stores selling wine. Its product portfolio comprises 2,081 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 in 33 communities around the province. These communities benefit from the employment of 620 New Brunswickers at the stores.31-07-17