News
Business
NB Liquor and Cannabis NB report Q3 sales increases and profits
January 14, 2021 By The Canadian Press
NB Liquor and Cannabis NB are both reporting third quarter revenue increases.
The two Crown corporations released their third quarter figures Jan. 13 for the period ending Dec. 27, 2020.
NB Liquor says total sales for the 13-week period were $132.4 million – up 10.3 per cent compared with the same quarter last year – with net income of $52.6 million.
Cannabis NB, meanwhile, had total sales of $19.3 million – up 76 per cent over the same quarter in 2019.
Lori Stickles, Cannabis NB acting president, says net profit for the quarter was $2.8 million and says she anticipates a profit of $10 million for the year.
The New Brunswick government has explored the possibility of privatizing Cannabis NB’s retail operation, but has yet to make a decision.
Print this page
