The Canadian drinks group Corby Distilleries saw a 54% increase in net income in its fourth quarter, compared to the same period last year, which helped the full year income jump 13%.
Though the outbreak of SARS in Toronto and a mad cow disease scare in Alberta affected tourism and subsequently reduced spirits consumption, the company said it did not expect the effect to be long term.
Fourth-quarter net was C$10.1 million or C$1.43 a share, up from C$6.6 million or 93 Canadian cents a year earlier.
Looking forward the company said that results for 2004 may be down on 2003, “to the extent that the demand for spirits in the Canadian market declines from fiscal 2003 levels,” due to the drop in tourism.
