The Nova Scotia Liquor Corporation (NSLC) released its third-quarter financial results today, February 15, for October 4, 2021, to January 2, 2022.
Total sales for the quarter were up 2.4 per cent, with an increase in both beverage alcohol and cannabis sales. Beverage alcohol sales were up 1.1 per cent to $189.8 million and cannabis sales increased 13.7 per cent to $25.2 million.
There was a 1.3 per cent decrease in earnings to $74.0 million, Earnings were down due to increased sales of cannabis and local products, which both carry lower mark-ups, higher freight costs and payroll increases.
Nova Scotia products experienced growth across all categories. Local cannabis led that growth with a 46.9 per cent increase in sales to $6.6 million compared to the previous fiscal quarter. Nova Scotia spirits sales grew by 15.7 per cent to $4.4 million. Local wine sales grew 13.9 per cent to $5.0 million. Nova Scotia beer sales increased by 11.3 per cent to $6.7 million, and ready-to-drink sales grew by 3.0 per cent to $6.4 million.
A detailed news release can be found on the NSLC website at: https://www.mynslc.com/About-NSLC/Media-Centre/News-Releases/NSLC-Releases-Third-Quarter-Financial-Performance-2022