The Crown corporation is reporting net earnings of $47.6 million dollars, which is an increase of 0.2 million over last year’s first quarter results.
It’s been a bountiful first quarter for the Newfoundland Labrador Liquor Corporation as they released first quarter results ending July 1st. The Crown corporation is reporting net earnings of $47.6 million dollars, which is an increase of 0.2 million over last year’s first quarter results. However, the dividend paid to government totalled $48 million for the first quarter, and is actually $5 million lower than the previous first quarter. NLC says the reason why the dividend is lower is due to the timing of payments. Meanwhile, beverage sales were down by 1.6 percent to $71 million. Total cannabis sales rang in at $19.4 million, a 7 percent increase over last first quarter results. During the quarter, the Stephenville office as well as 4 locations on the east coast were renovated.
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