NSLC Announces Year End 2016 Results

Halifax, June 28, 2016 – The NSLC released its year-end results today (April 1, 2015 to March 31, 2016). Compared to last year:

  • Net income (earnings) totaled $241.3 million; up $13.3 million or
  • 5.8%
  • Total sales were $607.6 million; an increase of $16.3 million or 2.8%
  • Total volume of alcohol sold was up 1.7%
  • Overall retail customer transactions (purchases) were up 1.1%, while the average dollar value of each transaction grew by 1.0%.

“I am very pleased to report a strong year for our company in 2015-2016,” says NSLC President & CEO Bret Mitchell. “While several factors contributed to these results, including our efforts to control costs, they confirm we’re focusing on the

right things: Customer service excellence, promoting responsible enjoyment, and supporting local industry.”

Local Product Sales Highlights

  • Nova Scotia wine sales (made with locally grown grapes) grew by 8.7% to $9.6 million.
  • NS craft beer sales grew by 25.5% to $7.6 million. The craft beer industry has grown significantly over the past year, and now comprises four percent of all beer sold. There are now 32 microbreweries in Nova Scotia and more than 40 craft beer listings available at NSLC stores. 
  • NS spirit sales grew by 177.3% to $1.5 million. Nova Scotia distillers had a very strong year in sales through NSLC stores. Awareness and popularity of local spirits continued to grow and was helped along after several of the local varieties carried by the NSLC were recognized and won medals this spring at the World Spirits Competition in San Francisco. 
  • NS commercial wine sales (produced here with imported grapes) were up 7.3% to $21.7 million. 
  • NS commercial beer sales were stable in 2015-2016, at $160.5 million.
  • NS ready-to-drink products, which are largely ciders, had a strong year with sales increasing by 44.4%. The popularity of ciders in Nova Scotia continues to grow, and now comprises 22 percent of all ready-to-drink sales.

Business Highlights

Sales Comparison by Category

Category Revenue Volume (Hectolitres sold by NSLC) Per Cent of Total Sales
Wine 4.4% to $135.6M 4.1% 22.3%
Spirits 1.4% to $162.9M 0.7% 26.8%
Beer 2.1% to $278.7M 0.9% 45.9%
Ready-To-Drink 8.9% to $30.2M 9.0% 5.0%

Sales by Channel

Channel Sales Change
NSLC Retail Stores $497.7M $10.4M (2.1%)
Licensees (bars/restaurants/pubs) $53.6M $1.1M (2.1%)
Agency Stores (independently owned) $44.4M $3.6M (8.9%)
Private Wine and Specialty Stores $10.9M $1.2M (12.1%)
Other Wholesale $0.9M $0.04M (4.5%)


Operating Expense Ratio 

The NSLC’s operating expense ratio for the year – including amortization and depreciation – was 15.9% compared to 16.9% reported over the prior year.

Board Expenses

The NSLC released the Board of Directors’ expenses for the fourth quarter. These expenses amounted to $6.06 per Director, per day. An electronic version of these expenses is available at www.myNSLC.com.



Other key achievements for the NSLC in 2015-2016 include reducing greenhouse gas emissions and delivering our responsible enjoyment mandate. Through our We ID program our retail employees asked for ID 1.7 million times in 2015-2016,and refused the sale more than 13,000 times. Community based fundraising programs administered by NSLC and supported by our customers raised over $300,000.


 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 $190 million in locally-produced products every year. For more information about the NSLC, please visit our website at www.mynslc.com

For more information please contact:

Beverley Ware

Nova Scotia Liquor Corporation


O: (902) 450-5920

M: (902) 456-5040

Financial Highlights

For the quarter ended March 31, 2016

Q4 2015/2016 2014/2015
Sales Volume (Hectolitres) 165,533 157,888
Spirits $36,812,468 $35,668,218
Wine 29,242,499 27,420,810
Beer 58,048,071 55,381,190
Ready-To-Drink 5,071,693 4,446,664
Non-Liquor 19,346 18,058
Total Sales by Category $129,194,076 $122,934,940
Gross Profit $72,433,829 $68,534,357
Store Operating Expenses (15,962,980) (15,471,029)
Gross Operating income $56,470,849 $53,063,328
Other Corporate Expenses & Other earnings (8,479,968) (11,083,051)
Income from Operations $47,990,881 $41,980,277

For the 12 months ended March 31, 2016

YTD Q4 2015/2016 2014/2015
Sales Volume (Hectolitres) 788,756 775,886
Spirits $162,937,174 $160,667,855
Wine 135,581,539 129,817,056
Beer 278,746,585 272,950,002
Ready-To-Drink 30,198,868 27,739,224
Non-Liquor 120,421 125,883
Total Sales by Category $607,584,588 $591,300,020
Gross Profit $337,973,579 $327,792,876
Store Operating Expenses (61,231,677) (61,281,852)
Gross Operating income $276,741,902 $266,511,024
Other Corporate Expenses & Other earnings (35,484,804) (38,524,542)
Income from Operations $241,257,098 $227,986,482