Nova Scotia Liquor Corporation Year-End Results

The Nova Scotia Liquor Corporation (NSLC) released its financial results for fiscal year 2021, from April 1, 2020, to March 31, 2021, today, June 15.

Sales continued to reflect changes in customers’ purchasing patterns due to the pandemic. There was an 11.0 per cent increase in earnings this fiscal year to $274.5 million.

There was a 7.9 per cent increase in beverage alcohol sales to $707.0 million and a 22.7 per cent increase in the average basket size compared to the previous fiscal year. This growth was driven by customers purchasing from private wine and speciality stores, agency stores and NSLC stores due to pandemic restrictions at bars, pubs and restaurants.

All Nova Scotia product categories grew, with ready to drink products again leading the growth with a 78.5 per cent increase in sales to $28.6 million. Nova Scotia spirit sales grew by 19.1 per cent to $11.2 million compared to the previous fiscal year. Nova Scotia craft beer sales increased by 10.8 per cent to $22.3 million and local wine sales grew by 8.2 per cent to $13.6 million. Nova Scotia cannabis sales continued to experience very strong growth with a 30.1 per cent increase in sales to $16.9 million.

There was a 21.1 per cent increase in cannabis sales to $86 million with the addition of new stores, a reduction in the average price per gram and steady supply of larger package sizes.

Additional Resources:

A detailed news release can be found on the NSLC website at: https://www.mynslc.com/About-NSLC/Media-Centre/News-Releases/NSLC-releases-Year-End-financial-performance