E-Malt.com News article: Canada: Russell Breweries reported a 72% revenue increase for the year ended June 30, 2006

Russell Breweries Inc., a producer of premium draught beer for fine pubs and eateries, reported October 31 the results for its fourth quarter and fiscal year ended June 30, 2006.

Revenue for the fourth quarter of fiscal year 2006 increased 28% to $400,330 from revenue of $313,815 in the comparable period of the previous year. Revenue for the year ending June 30, 2006 was $1,336,621. This was a 72% increase compared to sales of $777,054 for the comparable period of the previous year. The Company had a net loss for the twelve month period ending June 30, 2006 of $319,271 (loss of $0.03 per share) a 96% improvement over the net loss of $624,820 (loss of $0.10) for the previous twelve month period ending June 30, 2005.

“During the 2006 fiscal we experienced yet another year of significant growth and achieved our revenue objectives” said Andrew Harris, President. “Our goal is to continue to produce exceptional beer and to become a leader in the premium craft beer segment. The results over the past twelve months demonstrate that this company continues to gain momentum and is on its way to becoming a strong player in the market”.

Russell Brewing Company produces premium draught beer for fine pubs and eateries located in British Columbia. Using all natural ingredients and traditional beer-making techniques, Russell beer is brewed for people who love beer. Products include: Russell Cream Ale, Russell Pale Ale, Russell Honey Blonde Ale, Russell Extra Special Lager plus two seasonal brews, Russell Lemon Ale and Russell Winter Porter. Russell Brewing Company is a wholly owned subsidiary of Russell Breweries Inc.



01 November, 2006