NB Liquor releases unaudited fourth-quarter results and unaudited financial results for 2018-1930 April 2019
FREDERICTON (GNB) – NB Liquor today released its unaudited results for the fourth quarter ended March 31, 2019.
The company also released its unaudited financial results for fiscal year 2018-19 (52 weeks).
Total sales for the quarter were $92.9 million, 2.8 per cent higher than the quarter ended April 1, 2018.
Key product sales trends for the fourth quarter (Dec. 24, 2018 – March 31, 2019) compared to the fourth quarter last year (Dec. 25, 2017 – April 1, 2018) were:
- wine sales increased 1.1 per cent, up $ 200,000;
- spirit sales increased 4.3 per cent, up $1 million;
- beer sales increased 0.7 per cent, up $ 300,000; and
- coolers and ciders increased 21.3 per cent, up $1 million.
Total sales for the fiscal year were $433 million, up $4.3 million (1 per cent) from the previous fiscal year 2017-18 (53 weeks), which ended April 1, 2018. Net earnings remained steady at $169 million.
NB Liquor is also reporting unaudited consolidated year-end results of $157.3 million. The consolidation includes the results of its subsidiary Cannabis NB.
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 41 corporate retail outlets, 89 private agency store outlets, and 66 grocery stores selling wine and cider. Its product portfolio comprises 2,267 products, including wines, spirits, beers and other products, such as coolers and cider products. NB Liquor’s results are reported on a retail reporting cycle, which is typically a 52-week year. Retail reporting will result in a 53-week year occurring every five to six years.
Over the course of the last 43 years, NB Liquor has built a network of stores in 33 communities around the province and employs about 620 people.
The corporation also released the expenses of the board of directors and of the president and chief executive officer for the fourth quarter. The expenses are available online.