Big Rock Brewery reports 2012 net earnings of C$4.1M, compared with year-ago earnings of C$2.5M in year-ago period; operating profit at C$5.6M, up from C$3.3M

Nevin Barich

Nevin Barich

Mar 20, 2013 – Marketwire

CALGARY, Alberta , March 20, 2013 (press release) – Big Rock Brewery Inc. (TSX:BR) ("Big Rock" or the "Corporation") announced its financial results today for the year ended December 30, 2012.

Big Rock showed a significant increase in both net income and operating profit in 2012 as compared to the previous year. Net income for the year ended December 30, 2012 was $4.1 million compared to $2.5 million in the year ended December 30, 2011. Operating profit for 2012 was $5.6 million compared to $3.3 million in 2011. The improvement in operating profit resulted from lower selling expenses as well as higher margins per hectolitre ("hl") attributable to both an increase in average selling prices and a decrease in production and selling costs.

The improved operating profit was achieved despite a 1.5 per cent decrease in the total volume of Big Rock's sales, which decreased to 217,646 hl for 2012 as compared to 220,973 hl for 2011. Volume-driven price promotions utilized in 2011 were scaled back significantly for 2012, resulting in comparatively lower sales volumes but higher profit margins.

The Financial Statements and Management Discussion and Analysis dated March 19, 2013 can be viewed on Big Rock's website at bigrockbeer.com/corporate and on SEDAR at sedar.com under Big Rock Brewery Inc.

Big Rock also announces today that Mr. Gordon Tallman and Mr. James Jackson have indicated that they will not stand for re-election at the Corporation's upcoming meeting of shareholders. Mr. Tallman will be leaving the Big Rock Board of Directors ("the Board"), effective May 3, 2013, while Mr. Jackson will be retiring from the board immediately. Mr. Jackson has served on the Board for more than 16 years. Mr. Tallman, who has served on the Board for over 11 years, is also a member of the Big Rock Compensation and Audit Committees.
The Board has appointed one of their existing members, Mr. Jim Riddell, to succeed Mr. Tallman on the Audit Committee. The Board expressed their gratitude to both Mr. Jackson and Mr. Tallman for their years of service and appreciation for their expertise and many contributions to the Board and Committees.

About Big Rock Brewery Inc.

Big Rock Brewery Inc. - headquartered in Calgary, Alberta - produces premium, all-natural craft beers. As Canada's leading craft brewer, Big Rock boasts a family of ten exceptional
ales and lagers; Rock Creek dry apple cider as well as an ongoing selection of seasonal beers in the Brewmaster's Series. Big Rock products are sold in nine provinces and three territories in Canada and they are also available in Korea.

For more information on Big Rock Brewery visit bigrockbeer.com

* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.

Share:

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025 795

+1 (310) 558 0008
+1 (310) 558 0080 (FAX)

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.