First Quarter Results
The Nova Scotia Liquor Corporation (NSLC) released its first quarter results today, Aug. 27, for April 1, 2019 to June 30, 2019.
Total sales were up 11.5 per cent to $174.9 million with $158.8 million in beverage alcohol sales and $16.1 million in recreational cannabis sales.
There was strong growth in all local beverage alcohol product categories. Nova Scotia ready-to-drink sales, which are mostly ciders and coolers, were up 107.7 per cent to $3.3 million while Nova Scotia spirit sales were up 26.0 per cent to $2.0 million. Nova Scotia craft beer sales grew by 17.8 per cent to $4.9 million while Nova Scotia wine sales, using locally grown grapes, were up by 13.7 per cent to $2.9 million.
There were 449,707 cannabis transactions with an average dollar value of $35.73. The average dollar value of each beverage alcohol transaction grew by two per cent to $30.39.
Compared to the first quarter of the previous fiscal year, net income for the NSLC was $60 million, up $1 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-Announces-Q1-Results .