Cannabis sales are largely responsible for an increase in second quarter profits at the NSLC.
NSLC reported $73.8 million in net sales, a 5 percent increase over the same time last year.
Cannabis sales totalled $18.2 million dollars between July 1 – September 29.
Cannabis wasn’t sold in Canada until the third quarter of last year so the income generated went directly to the liquor corporation’s bottom line.
Results released today show profits from alcohol sales saw a slight increase of 1.8 percent despite the actual volume of booze sold going down.
Local ciders and ready-to-drink products also saw a 120% jump in sales to account for $6.2 million.
Local craft beer, spirits and wine sales are all up which NSLC Spokesperson Beverley Ware attributes to consumer’s maturing tastes.
“But we’re also seeing a more mature population and they’re more selective in their purchases so they would be purchasing the more premium products.”
Ware says the trend shows consumers are changing their habits.
“So for example, a bottle of whiskey has lower volume than a case of beer and of course, it’s a more expensive product.”
Ware says this explains why, even though the volume of alcohol sold is down, the value of sales is up.
NSLC’s full second quarter financial results can be found here.
Reported by: Ed Halverson
Twitter: @edwardhalverson
E-mail: halverson.ed@radioabl.ca
