Third Quarter Results
The Nova Scotia Liquor Corporation (NSLC) released its third quarter results today, Feb. 19, for Oct. 1 to Dec. 30, 2018.
Total sales were up 9.2 per cent to $180.9 million with $163.5 million in beverage alcohol sales and $17.4 million in recreational cannabis sales. There were 456,822 cannabis transactions in this quarter with an average dollar value of $38.05. The average dollar value of each beverage alcohol transaction grew by 0.7 per cent to $32.41.
The growth in local beverage alcohol product categories continues to be strong. Nova Scotia ready-to-drink sales, which are mostly ciders, were up 89.3 per cent to $2 million while craft beer sales were up 23.7 per cent to $4 million. Nova Scotia spirit sales grew by 21.5 per cent to $2.4 million while Nova Scotia wine sales, using locally grown grapes, were down by 2.5 per cent to $3.5 million. This is due to New Year’s Eve falling in the fourth quarter this year compared to the third quarter last year.
Compared to the same period last year, net income for the NSLC was $65 million, down $800,000, while total sales were up by $15.2 million to $180.9 million.
A detailed news release can be found on the NSLC website at www.mynslc.com/en/About-NSLC/Media-Centre/News-Releases/NSLC-Announces-Quarter-Three-Results .