NSLC Exceeds Financial Projections for 2003-04

N.S. LIQUOR CORP.--NSLC Exceeds Financial Projections for 2003-04

The Nova Scotia Liquor Corporation (NSLC) exceeded its financial targets last year, with a net income of $167.8 million, an increase of 6.2 per cent over the previous year. The NSLC's 2003- 04 business plan set a net income target of $166.7 million.

The NSLC released its year-end and fourth quarter (Jan. 1 to March 31) financial results today, July 27.

Fourth quarter profit amounted to $28.6 million, an increase of 8.8 per cent over the same quarter last year.

Other highlights of the financial report include strong performance in wine and beer sales, in marketing, and substantial progress in upgrading the NSLC's store network.

"The success of the NSLC in a year of great change is a testament to the quality and dedication of all NSLC employees," said Ken Barbet, acting president NSLC. "We have had a record growth and believe that our business strategy for this year will produce even stronger results."

A detailed news release on fourth quarter and year-end results can be found by following the corporate information and news release links on the NSLC website at www.nsliquor.ca .

The Nova Scotia Liquor Corporation provides world class selection and service of beverage alcohol through the operation of 103 retail and seven agency stores throughout the province. By providing superior customer convenience and service, the NSLC returns substantial revenue to the provincial government while ensuring the responsible enjoyment of beverage alcohol in Nova Scotia.