Sept. 19, 2008
FREDERICTON (CNB) - Alcool NB Liquor announced record profits for the 10th consecutive year in the corporation's annual report released today.
Total sales for the fiscal year ending March 31, 2008, increased to $379.6 million, up 5.5 percent over the previous year. Net income increased by $13.3 million, or 10.1 per cent, to $144.8 million, which exceeded budget by $454,000, and represented the largest net income increase in a single year in the history of the corporation. The corporation remitted $140,500,439 to the Province of New Brunswick.
"Thanks to the dedicated and outstanding efforts of our 404 employees, I am pleased to announce the 10th consecutive year of record results," said Dana Clendenning, president and CEO. "This milestone achievement is attributed to sales growth across all categories, improvements in operational efficiencies, and vigilant expense management."
In recognition of this accomplishment, Alcool NB Liquor will launch a customer appreciation sale, beginning Friday, Sept. 26.
"We value our customers, and want to thank New Brunswickers for their patronage this past year with a special sale," said Clendenning. "Two hundred brands will be featured with discounts of up to 40 per cent."
The spirit, beer, and other beverages categories enjoyed a combined revenue growth of 4.6 per cent, while the wine category grew 10.7 per cent year-over-year, due in part to the increased popularity of wine festivals, in-store tastings, and the expanded appeal of new products.
Operational efficiencies and strong expense management resulted in an expense-to-sales ratio of 11 per cent, lower than the 11.5 per cent goal and one of the lowest expense-to-sales ratios of any liquor jurisdiction in the country.
Other major initiatives of the 2007-08 fiscal year:
The 2007-08 annual report is available online.
Alcool NB Liquor is a Crown corporation of the Province of New Brunswick, with annual sales of $379.6 million, and a network of 46 retail stores, 73 licensed agency partners, 404 permanent employees and 2,200 regular listed products. While responsibly hosting New Brunswick's beverage alcohol experience, Alcool NB Liquor's vision is to be recognized as a high-performance retailer, engaging employees in service excellence.
MEDIA CONTACT: Nora Lacey, Alcool NB Liquor, 506-452-6453, firstname.lastname@example.org.
Alcool NB Liquor year-end results
2007-08 fact sheet
|Number of Corporate Stores||47||51|
|Number of Agency Stores||70||69|
|Number of ANBL permanent employees||404||422|
|Number of regular listed products||2,200||2,571|
Sales by Source
|2007-2008||% of TOTAL||2006-2007|
Total sales (millions)
|Spirits||Wine||Other Beverages||Beer||Total||% change yearly|
Litres sold (millions)
|Spirits||Wine||Beer||Total||% change yearly|
Remittances to Governments
Province of New Brunswick
|Payments from net earnings (or net income)||$140,500,439||$126,986,073|
|Environmental Trust Fund||$1,628,450||$ 1,553,865|
|Property Taxes||$323,127||$ 350,246|
|Government of Canada|
|Harmonized Sales Tax||$28,798,613||$ 27,086,420|
|Excise tax and customs duties||$15,901,949||$ 15,668,796|