First-Quarter Results

The Nova Scotia Liquor Corporation (NSLC) released its first-quarter financial results today, August 23.

Total sales for the quarter – April 1 to July 3 – were up 3.6 per cent to $219.4 million, with an increase in both beverage alcohol and cannabis sales compared with the same time last year. Beverage alcohol sales increased 2.7 per cent to $192.1 million, and cannabis sales increased 10.4 per cent to $27.3 million.

Earnings increased 0.5 per cent to $72.1 million, driven by three additional selling days and the opening of five new cannabis stores.

Sales of Nova Scotia products increased across all categories except for a slight decline in ready-to-drink products – down 0.1 per cent to $8.7 million. Local cannabis led the growth with a 59.8 per cent increase in sales to $7.8 million. Growth in other categories included:

• wine: up 24.0 per cent to $4.1 million
• beer: up 13.5 per cent to $7.6 million
• spirits: up 6.0 per cent to $2.9 million.

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-First-Quarter-Financial-Performance-2022