The Nova Scotia Liquor Corporation says earnings topped $284.7 million in its latest year-end financial report, a six-per-cent increase over the previous year.
In a release, the NSLC said sales totaled $860.7 million between April 1, 2022 and March 31, 2023, with alcohol sales of $749.5 million and cannabis sales of $111.1 million.
While alcohol sales increased by 4.3 per cent, there was a 0.3 per cent decrease in the total volume sold. The NSLC said alcohol transactions for the year increased by 1.1 per cent and the average basket increased by 0.7 per cent, with the average customer spending $38.62 per trip.
Cannabis sales increased by 9.3 per cent, with a 12.7-per-cent increase in cannabis transactions. The average basket size decreased by 3.1 per cent to $38.40, which is “partly reflective of a 2.8% reduction in the average price per gram of $6.19.”
The release said the NSLC is committed to “combatting illicit cannabis” by adding 11 new cannabis locations this year, bringing the total to 48 stores. According to the corporation, more than three-quarters of Nova Scotians live within a NSLC Cannabis location.
“We continue to look for ways to compete with the illicit cannabis market and offer Nova Scotians an accessible and safe supply of cannabis,” said NSLC president and CEO Greg Hughes in the release.
“This includes finding ways to partner with local cannabis producers and help them bring their products to market.”
52% increase in sales to bars, restaurants
The NSLC said while sales were up across all NSLC channels, the “most notable” was a 52.4-per-cent increase in sales to licensees, such as bars, pubs and restaurants.
It said this increase was “driven by good weather, increased tourism and the desire to enjoy social occasions out of home.”
Local product sales have also increased, with Nova Scotia cannabis sales increasing by 41.8 per cent to $33.5 million. Nova Scotia cannabis accounts for just over 30 per cent of all cannabis sales, according to the report.
As well, Nova Scotia beer sales increased by eight per cent to $28.6 million, wine sales increased by 7.8 per cent to $16.8 million, and spirit sales increased by 2.3 per cent to 12.9 million. Nova Scotia ready-to-drink sales saw the highest increase of 9.8 per cent, to $33 million.
Customers of NSLC must be at least 19 years old, and in the past fiscal year, employees across the province have asked for ID more than 2.2 million times. They have refused service more than 19,000 times.