HALIFAX, February 20, 2018 – The Nova Scotia Liquor Corporation (NSLC) released its quarter-end results today (October 2, 2017 to December 31, 2017). Compared to the same period last year:
- Net income (earnings) totaled $65.5 million; up $0.7 million or 1.1%
- Total sales were $165.7 million; up $4.7 million or 2.9%
- Total volume of alcohol sold was up 1.9%
- Overall retail customer transactions (purchases) were up 1.6%, while the average dollar value of each transaction grew by 1.2%
“The strong performance that continued throughout the third quarter means we’re well positioned to achieve our financial targets for the fiscal year,” said Bret Mitchell, NSLC President & CEO. “Clearly local craft beer, spirits and wines were very popular with Nova Scotians over the Christmas season as they continue to discover and appreciate the variety and quality of local products.”
Local Product Highlights for the quarter:
- NS craft beers sales grew by 48.6% to $3.2M.
- NS spirits sales grew by 59.5% to $2.0M.
- NS wine sales (using locally-grown grapes) were up by 22.6% to $3.5M.
- NS commercial wine sales (produced here without local grapes) were up 1.1% to $6.3M.
- Sales of Nova Scotia ready-to-drink products – which are largely ciders made with locally grown apples - increased 37.8% to $1.0M.
Third Quarter Sales Summary (This year vs. last year)
||Volume (Hectolitres sold by NSLC)
||Per Cent of Total Sales
||4.5% to $41.7M
||1.9% to $48.7M
||1.7% to $67.1M
||11.5% to $8.2M
Sales by Channel
|NSLC Retail Stores
|Agency Stores (independently owned)
|Private Wine and Specialty Stores
Operating Expense Ratio
The NSLC’s operating expense ratio for the quarter – including amortization and depreciation – was 15.3% compared to 15.2% reported for the same period last year.
The NSLC released the Board of Directors’ expenses for the third quarter. These expenses amounted to $3.36 per Director, per day. An electronic version of these expenses is available HERE.
About the NSLC
For over eighty years, the NSLC has been managing the safe and responsible sale of beverage alcohol in Nova Scotia, returning 100% of its profits to government to help fund key public services. As a true partner in our communities, the NSLC conducts its business with integrity, and respect for the environment, while supporting the sale of more than $200 million in Nova Scotia-produced products every year. For more information about the NSLC, please visit our website at myNSLC.com.
For more information please contact:
Nova Scotia Liquor Corporation
Phone: (902) 450-5920
For the quarter ended December 31, 2017
|Sales Volume (Hectolitres)
|Total Sales by Category
|Store Operating Expenses
|Gross Operating income
|Other Corporate Expenses & Other earnings
|Income from Operations