For fiscal year 2023, alcohol and cannabis sales totalled $349.3 million compared to $318.9 million in 2022.
The Newfoundland Labrador Liquor Corporation released results for the fourth quarter which ended April 1st, and it’s no April Fools day joke, but sales are up nearly 16 percent. NLC reported net earnings for the quarter of $39.9 million, an increase of $5.4 million. Net earnings for fiscal year 2023 totalled $201.2 million, an increase of $0.4 million or 0.2% from 2022. The dividend paid by NLC to the Government of Newfoundland and Labrador totaled $40 million for the quarter, $1.8 million higher than Q4 of the prior year. This brings the dividend remitted for the fiscal year to $208 million, $2 million lower than the same period one year ago. The difference is due to many factors, namely the new collective agreement and an increase in commissions to support licensed cannabis retailers, as well as increased freight and security costs during the year. For fiscal year 2023, alcohol and cannabis sales totalled $349.3 million compared to $318.9 million in 2022.
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