CANADA: Brick Brewing Co back in the black in H1, but sales dip
- First-half net profits of CAD238,664 (US$0.2m)
- H1 net sales slip 11% to CAD18m
- Operating profits total CAD325,419
Brick Brewing Co has returned to profit in its first-half, but sales suffered in Q2 with the company blaming “cooler weather”.
Net profits in the six months to the end of July came in at CAD238,664 (US$0.2m) after losses in the prior year of CAD403,042, the Canadian brewer said today. Sales in the period slipped by 11%, however, to CAD18m.
The bottom line was helped by “lower operating costs”, improved premium product mix and “favourable pricing”, the Ontario-based group said.
Sales in the second quarter fell 8.8% to CAD10.4m, with Brick pointing to "cooler weather" and no repeat of a promotional offer on the Laker brand in the prior year.
However, the company flagged that volumes of its Waterloo premium craft brands grew by 39% in the second quarter, helped by a postive response Waterloo Radler.
Brick developed the Waterloo site as its first brewery, when the company was formed in 1984.
To read the company's full H1 results statement, click here.
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