CEO Bruce Keating says net earnings rang in at $56.3M, a decrease of about $3.7M, mainly due to the removal of U.S products and decline in beer comissions.
Beer sales are down but cannabis sales are ten percent higher than last year’s numbers for the second quarter. The Newfoundland Labrador Liquor Corporation released a report yesterday that covered a period ending October 4th. CEO Bruce Keating says net earnings rang in at $56.3M, a decrease of about $3.7M, mainly due to the removal of U.S products and decline in beer commissions.
Alcohol sales totalled $84.2M, down 1.5 percent however, cannabis sales are up 10.6 percent at $28.5M. Keating says those numbers could start to slow since that market is maturing. He says they’re optimistic that the Christmas season will boost sales numbers.
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