NLC reports liquor sales down in second quarter
NLC reported net earnings for the quarter of $56.3 million, a decrease of $3.7 million, or 6.2%,
compared with Q2 of fiscal year 2024-25. The liquor corporation says the decrease is due to reduced gross profit on beverage alcohol sales, partly due to the removal of higher-margin U.S. products, and a decline in beer commission revenue.
NLC paid $58.0 million to the Government of Newfoundland and Labrador in the quarter, a decrease of $2.0 million compared to $60.0million in the second quarter of fiscal 2025.
“We remain cautiously optimistic about the outlook for the balance of the year,” said Bruce
Keating, NLC President and CEO. The NLC says cannabis says are at “steady” growth.
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