Nova Scotia Liquor Corp. Announces Third Quarter Results
The Nova Scotia Liquor Corporation (NSLC) released its third quarter results today, Feb. 21, for Oct. 3 to Jan. 1, 2017.
Compared to the same period last year, net income totalled $64.8 million, an increase of $0.3 million or 0.5 per cent, while total sales were $161 million, an increase of $3.2 million or two per cent. The total volume of alcohol sold was down 0.7 per cent. Overall customer transactions were down 0.1 per cent, while the average dollar value of each transaction increased by 2.3 per cent.
"Continued strong performance means we're well positioned at this point to achieve our full-year financial targets," said Bret Mitchell, president and CEO. "We're also pleased to see our efforts to promote local in our stores continue to reap positive results in terms of higher sales for Nova Scotian products."
All Nova Scotia product categories experienced growth. Locally produced spirit sales increased by 111.6 per cent to $1.2 million, ready-to-drink products such as cider made with locally grown apples, increased 83 per cent to $800,000 and craft beer sales grew by 29.5 per cent to $2.5 million.
A detailed news release can be found on the NSLC website at, https://www.mynslc.com/en/About-NSLC/Media-Centre/News-Releases/NSLC-Third-Quarter-Results-2017