Alcohol, cannabis sales up as NLC reports fourth quarter sales

Posted: June 6, 2023 12:25 pm | Last Updated: June 6th, 2023 3:27 pm
By Web Team

Alcohol and cannabis sales are up, as the Newfoundland and Labrador Liquor Corporation releases its financial and operational results for the fourth quarter of fiscal year 2023.

NLC reported net earnings for the quarter of $39.9 million, an increase of $5.4 million, or 15.8%, compared with Q4 of fiscal year 2022.

Beverage Alcohol sales for Q4 were $55.5 million, up 1.7%, mainly due to higher spirits, beer and ready-to-drink (RTD) sales. Compared with Q4 of 2022, spirits sales were up 2.7%, wine sales were down 6.3%, RTD sales increased 23.3%, and beer sold through NLC corporate stores increased 1.2%.

Cannabis sales through Licensed Cannabis Retailers (LCRs) totalled $18.6 million in Q4, an increase of 22.3% over Q4 of the prior year. Total retail cannabis sales in Q4, including online sales, were $18.7 million.


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