The Canadian brewer Sleeman Breweries today announced record results for the fourth quarter and 2001 financial year.

For fiscal 2001, revenue increased 7% to C$143.6m, up from C$134.4m in the previous 12-month period. Net income increased 9% to C$9.8m, or $0.63 per share on a diluted basis, compared to C$9m or $0.58 per diluted share in fiscal 2000.

"We delivered another record year of revenue despite some disappointments in the third quarter," said John Sleeman, chairman & CEO.

"We returned to year-over-year growth in all financial measures for the quarter even though there were only 13 weeks in this year's fourth quarter compared to 14 weeks in the fourth quarter of fiscal 2000. Moving forward, we have some exciting sales and marketing plans for 2002, and we will continue to execute against our growth strategy."
 
EBITDA rose 8% to C$28.5m, compared to C$26.5m in 2000. Cash flow from operating activities rose substantially from C$12.4m in 2000 to C$19m in 2001.