Cannabis sales helped the Nova Scotia Liquor Corporation post another year of growth, despite a slight decline in alcohol purchases.
The NSLC reported total sales of $898.4 million for the fiscal year ending March 31, up 1.1 per cent compared to the previous year.
While beverage alcohol sales slipped 0.2 per cent to $759.5 million, cannabis sales climbed 9.3 per cent to $138.8 million.
The corporation’s earnings totalled $268.8 million, down 4.1 per cent from the previous year.
Local products continue to grow
Sales of Nova Scotia-made products remained a bright spot.
Local product sales increased 11.2 per cent to $150.9 million.
Locally produced beverage alcohol sales rose 11.6 per cent to $111 million, led by strong growth in spirits, ready-to-drink beverages and wine.
Local cannabis sales also increased, rising 10.2 per cent to $39.9 million. Nova Scotia products now account for nearly 29 per cent of all cannabis sales in the province.
U.S. alcohol sales support food programs
The NSLC resumed sales of existing U.S. alcohol inventory in December after the Province announced a policy change related to tariffs.
Between December and the end of March, sales of U.S. products totalled just over $10 million.
The Province says $5.3 million in net proceeds from those sales was directed to food relief initiatives operated by charities and non-profit organizations across Nova Scotia.
The detailed financial results were released by the NSLC on Tuesday as part of its year-end reporting.
