First-Quarter Results

The Nova Scotia Liquor Corporation (NSLC) released its first-quarter financial results today, August 22.

Total sales from April 1 to July 2, 2023, were down 0.1 per cent to $219.1 million, with an increase of 6.7 per cent in cannabis sales and a decrease of 1.1 per cent in beverage alcohol sales compared with the same time last year.

Despite an overall decrease, sales to bars, pubs and restaurants increased by 5.9 per cent to $13.7 million, and sales to agency stores increased by 1.1 per cent to $17.2 million.

Earnings during this quarter decreased 1.9 per cent to $70.7 million.

Sales growth of Nova Scotia beverage alcohol products was led by locally produced ready-to-drink products, including coolers and ciders, while local cannabis led the growth of Nova Scotia products overall with a 22.2 per cent increase in sales to $9.5 million.

Other results include:

• ready-to-drink products: up 1.2 per cent to $8.8 million
• wine: down 1.1 per cent to $4.0 million
• spirits: down 0.2 per cent to $2.9 million
• beer: up 0.9 per cent to $7.7 million.

Additional Resources:

A detailed news release is on the NSLC website at: https://www.mynslc.com/About-NSLC/Media-Centre/2023/NSLC-First-Quarter-Financial-Results