CANADA: Brick Brewing sees Q3 sales decline
Beer volumes in the period under review continued to grow, the company said, and were 41% up on the corresponding period last year.
The decline in co-pack volumes also impacted on operating income before interest and amortisation which fell from C$540,000 to C$25,000. Brick registered a net loss for the quarter of C$365,000, against net earnings of C$130,000 last year.
"We continue to be pleased with the performance of the Brick portfolio of beer brands and especially the stubby bottle success." said Brick Brewing's president, Jim Brickman. "Unfortunately, a substantial year over year reduction in co-pack volume has more than offset the positive gains we achieved in our beer business. Despite this, we are encouraged by future developments in co-pack business trends that lead us to believe we will regain a good portion of this volume in upcoming quarters."
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