NB Liquor and Cannabis NB report third quarter sales increases and profits

A Cannabis NB store in Sackville, N.B. is seen on Oct. 14, 2018. The Canadian Press/Andrew Vaughan

FREDERICTON – NB Liquor and Cannabis NB are both reporting third quarter revenue increases.

The two Crown corporations released their third quarter figures Wednesday for the period ending Dec. 27, 2020.

Read more: Government’s decision on Cannabis NB won’t come until the new year

NB Liquor says total sales for the 13-week period were $132.4 million – up 10.3 per cent compared with the same quarter last year – with net income of $52.6 million.

Cannabis NB, meanwhile, had total sales of $19.3 million – up 76 per cent over the same quarter in 2019.

Read more: Patrick Parent, CEO of NB Liquor and Cannabis NB, announces resignation

Story continues below advertisement

Lori Stickles, Cannabis NB acting president, says net profit for the quarter was $2.8 million and says she anticipates a profit of $10 million for the year.

The New Brunswick government has explored the possibility of privatizing Cannabis NB’s retail operation, but has yet to make a decision.

This report by The Canadian Press was first published Jan. 13, 2021.

Sponsored content