Wednesday April 23, 2014


question of the week

Survey results are meant for general information only, and are not based on recognised statistical methods.





Home »  News »  Business

Brick Brewing Co. Ltd. logs net revenue of $7.5 million in third quarter

KITCHENER, Ont. - Brick Brewing Co. Ltd. (TSX: BRB) says its net revenues for the third quarter were $7.5 million, or a penny a share, down from $7.9 million in the same quarter a year ago.

For the fiscal year 2013 to date, Ontario`s largest Canadian-owned brewery said net revenues were $27.7 million compared to $26.7 million for the first three quarters of the previous fiscal year.

The brewer says shipments of its Laker products declined by seven per cent in the quarter while industry volume declined by 2.3 per cent, adding that its competitors responded by ``aggressively discounting National mainstream brands.``

Brick says the quarter was also marked by ``abnormal and sustained price reductions on leading national brands`` designed to reverse declining industry volumes.

Despite this effort, says Brick, industry volumes continue to trend lower and the NHL lockout compounded these results.

"Brick Brewing experienced some challenges in the quarter, but we believe that the circumstances are unique and non-recurring. In particular, the following issues arose and have been effectively addressed leading into Q4," said CEO and president George Croft.


Comments


NOTE: To post a comment in the new commenting system you must have an account with at least one of the following services: Disqus, Facebook, Twitter, Yahoo, OpenID. You may then login using your account credentials for that service. If you do not already have an account you may register a new profile with Disqus by first clicking the "Post as" button and then the link: "Don't have one? Register a new profile".

The Coast Reporter welcomes your opinions and comments. We do not allow personal attacks, offensive language or unsubstantiated allegations. We reserve the right to edit comments for length, style, legality and taste and reproduce them in print, electronic or otherwise. For further information, please contact the editor or publisher, or see our Terms and Conditions.

blog comments powered by Disqus


About Us | Advertising | Contact Us | Sitemap / RSS   Glacier Community Media: www.glaciermedia.ca    © Copyright 2014 Glacier Community Media | User Agreement & Privacy Policy
Business in Vancouver Whistler Question Squamish Chief Powell River Peak Real Estate Weekly My Local Flyers

LOG IN



Lost your password?