E-Malt.com News article: Canada, ON: Brick Brewing announces a 30 percent increase in its second quarter profits

Brick Brewing's second-quarter profits rose 30 per cent despite a difficult summer for beer sales, Waterloo Record reported on September 10.

The Kitchener-based company reported net income of C$579,806 in the three months ended July 26, up from C$445,453 in the same period a year earlier.

Net revenue increased to C$11 million from C$10.4 million, it said on September 10.

Brick Brewing’s representatives said the quarter was challenging because of disappointing weather in July and pricing pressure from mainstream beer brands.

Sales volumes of Brick Beer brands, including Laker, by far the company's main product by volume, fell 1.4 per cent in the second quarter, compared to a year earlier. Sales volumes of its Waterloo craft beers increased 37 per cent.

Brick Brewing’s new brewhouse in Kitchener became operational during the second quarter. The company consolidated all of its operations in its Bingemans Centre Drive facility after selling its Waterloo brewery last fall.


11 September, 2015