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CANADA: Big Rock full-year income dips

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Big Rock Brewery has posted a slight fall in net income for last year.

The Canadian brewer said yesterday (23 March) that net profit for the 12 months to 31 December slid by 2% to C$6.6m (US$5.6m) from C$6.7m a year earlier.

The dip came off the back of a rise in net sales of 5% for the period, to C$40.5m. The brewer blamed the fall largely on an increase in corporate income taxes.

For the three-month period to 31 December, sales were up by 14% to C$10m thanks to a 25% increase in sales volume for the period. Net income for the quarter leapt by 34% to C$1.7m.

Sales volumes for the year rose by 12% year-on-year to 215,166 hectolitres for the year. The increase was credited to new business in value and private label brands.

"During the year, the Canadian beer industry continued to experience significant growth in the popularity of value priced beers," the company said. "While Big Rock has been able to maintain its volumes in the premium beer segment year-over-year, the increase in Big Rock's value beer brand sales has been impressive."

In October last year, Big Rock sold off its brewery assets in Kamloops, British Columbia for C$4.97m with the aim of maintaining its focus on Big Rock's primary brands.


Sectors: Beer & cider

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