E-Malt.com News article: Canada, ON: Brick Brewing announces third quarter results

Brick Brewing Co. Limited, Ontario's largest Canadian-owned and Canadian-based publicly held brewery, released on December, 8 its financial results for the third quarter ended October 30, 2011, Canada Newswire reported on December, 8.

"We continue to invest in our brands to deliver top line growth," said George Croft, President and CEO. "Selling and marketing strategies for our beer brands resulted in exceptional volume growth and we outpaced the industry by 10.8%."

"Our beer brands have outperformed the broader industry for six consecutive quarters and this sustained effort has allowed Brick to move from the fifth largest brewer in Ontario by volume, to number four," continued Mr. Croft. "Great momentum on our Laker trademark has propelled us to this new market share position, which provides additional promotional opportunities at The Beer Store for fiscal 2013."

"Market conditions have remained challenging and input cost pressures continue. We are focused on minimizing the impact of these variables through consistent improvement in production processes and related efficiency,” said Mr. Croft.

Financial highlights are as follows:

Net revenues for the third quarter of fiscal 2012 were C$7.9 mln compared to C$7.1 mln in the third quarter of fiscal 2011.

Gross profit percentage increased from 23.1% to 24.9%.

EBITDA* for the period ended October 30, 2011 was C$0.7 mln. EBITDA* for the period ended October 31, 2010 was C$1.1 mln, which included a government incentive of C$0.3 mln. The company is no longer receiving this benefit, which was equal to C$1.0 mln on a year-to-date basis in the previous fiscal period.

About Brick Brewing

Brick Brewing Co. Limited is Ontario's largest Canadian-owned and Canadian-based publicly held brewery. The company is a regional brewer of award winning premium quality and value beers. The company, founded in 1984, was the first craft brewery to start up in Ontario, and is credited with pioneering the present day craft brewing renaissance in Canada. The company has complemented its Waterloo family of premium craft beers with other popular brands such as Laker, Red Baron, Red Cap and Formosa Springs Draft. Brick trades on the TSX under the symbol BRB.


09 December, 2011