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NB Liquor, Cannabis NB Release Q2 Results

By Brad Perry Nov 15, 2022 | 11:15 AM

Liquor sales in New Brunswick held steady in the second quarter while cannabis sales were down.

NB Liquor and Cannabis NB recently released their unaudited financial statements for the last quarter.

The province’s liquor corporation reported $148 million in sales, up 0.2 per cent compared to the same period last year.

Meanwhile, net income was down 3.2 per cent year over year to $57.4 million.

Sales of wine, spirits, coolers and cider increased during the quarter by a combined $1.4 million, while beer sales were down by $900,000.

Beer sales still accounted for 43.2 per cent of all reported revenue, followed by spirits (21.2 per cent), wine (20 per cent), coolers and ciders (15.5 per cent) and non-liquor (0.1 per cent)

NB Liquor said a total of 2.1 million transactions were recorded during the second quarter, with customers spending an average of $40.82.

Meanwhile, Cannabis NB reported a drop in sales during the second quarter of this year.

Total product sales were down 3.3 per cent to $21.7 million, according to the unaudited financial statements.

Net income, however, rose two per cent compared to the same quarter last year to $4.8 million.

Sales of edibles, topicals and concentrates grew a combined $1.5 million last quarter, helping to offset a $2.3 million drop in dried flower, extract and accessory sales.

Dried flower sales accounted for 53.4 per cent of all reported revenue, followed by concentrates (29.5 per cent), edibles (9.2 per cent), extracts (3.4 per cent), accessories (3.3 per cent), topicals (1.2 per cent) and seeds (0.06 per cent).

Customers spent an average of $56.55 per visit, with a total of 143,000 transactions recorded during the second quarter.


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