Corby Spirit and Wine Ltd. says that it has benefited from the provincial commercial measures that eliminated American alcoholic beverages from the shelves by increasing income for their Canadian brands in the fourth quarter of fiscal year 2025.
The company said it had income of $ 72 million for the quarter ending on June 30, an eight percent increase since the same period of the previous year.
“Our success today reflected our proudly execution of Canadian sales, with our commission and local brands gaining participation in US spirits and the US spirits. UU.
He said that the change of American brands in Canada created an opportunity for the manufacturer, marketer and importer of liquors, wines and cocktails ready to drink.
Earlier this year, provinces such as Ontario, British Columbia, Quebec, New Scotland and Newfounder and Labrador announced that their provincial liquor authorities would stop storing and sell some or all alcohol produced by the United States until the rates of the president of the United States, Donald Trump, were removed.
For example, on March 4, the Ontario Liquor Control Board (LCBO), one of the world’s largest alcohol buyers, officially announced that it would stop selling US products in response to tariffs.
At that time, the LCBO said that more than 3,600 products from 35 US states were listed and that US products would not be bought by the LCBO until normal businesses were ordered to resume.
Corby said that after the elimination of American spirits in the key provinces, their sales of free sales spirits grew by four percent in the fourth quarter.
Its products ready to drink increased 22 percent in the quarter, exceeding the general category of preparation for drinking, which grew nine percent, due to what the company said they are changing consumer preferences and expanding the distribution points in Ontario.
For fiscal year 2025, Corby said his income was $ 246.8 million, an increase of seven percent compared to the previous year, while his
Net earnings were
$ 27.4 million, an increase of 15 % year after year.
Corby said that annual retail sales of spirits in Canada in Canada decreased by six percent in volume and five percent value in the 12 months that end on June 30, due to both closures of LCBO stores during a labor strike in July 2024 and a change in purchase patterns in Ontario, since the province allowed alcohol sales in convenience stores.
The decreases were directed by sales of Vodka, Ron and Bourbon, but the sales of drinks in general lists to drink increased six percent in volume and seven percent value, largely due to sales of grocery stores and convenience in Ontario.
• Email: dpaglinawan@postmedia.com
