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Beer and wine propel NLSC to $147M profit – Metro US

Beer and wine propel NLSC to $147M profit

Booze sales are still going strong.

The Nova Scotia Liquor Corp. announced another profitable quarter Wednesday.

From Sept. 29 to Dec. 28, 2008, it made 6.85 per cent more than the previous year. Net sales for that period were more than $147 million, making the corporation $57.2 million in income.

“Based on our performance this quarter and considering the current market conditions, we are forecasting that we will modestly exceed our financial targets this fiscal year,” said Bret Mitchell, NSLC president and CEO.

Typically, December is the busiest time, representing 12 per cent of their annual sales. Last December, sales increased 4.8 per cent over last year.

Mitchell said the biggest sales growth was in beer and wine.

The last time the NSLC announced its sales figures, in November, sales were up nearly seven per cent, too. They reported a net income of $62.8 million and gross sales were $160.6 million.

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