Big Rock Brewery reports Q2 net earnings of C$1.4M, down 17.7% from year-ago period amid lower sales volumes attributed primarily to reduced promotional pricing activities
August 9, 2013
– Big Rock Brewery Inc. (TSX:BR) ("Big Rock") announced its financial results today for the quarter ended June 30, 2013.
Net income for the quarter ended June 30, 2013 was $1.4 million compared to $1.7 million in the quarter ended June 30, 2012. Operating profit for the quarter was $1.8 million compared to $2.3 million for the same quarter in 2012. The reduction in net income and operating profit resulted from lower sales volumes attributed primarily to reduced promotional pricing activities. Big Rock's sales volumes in the second quarter of 2013 were 51,266 hectolitres ("hl") as compared to 61,615 hl for the same period in the prior year. This volume reduction is consistent with Big Rock's shift in emphasis from volume growth to profit maximization but was exacerbated by unfavorable weather in Alberta during the second quarter.
The impact of reduced sales volumes was partially mitigated by higher revenue per hectolitre ("hl") and lower operating expenses.
The Financial Statements and Management Discussion and Analysis dated August 8, 2013 will be available on Big Rock's website at bigrockbeer.com/corporate and on SEDAR at sedar.com under Big Rock Brewery Inc.
About Big Rock Brewery Inc.
Big Rock Brewery - headquartered in Calgary, Alberta - produces premium, all-natural craft beers. As Canada's leading craft brewer, Big Rock boasts a family of 10 exceptional ales and lagers, Rock Creek dry cider, an ongoing selection of seasonal beers released through the Brewmaster's Edition and cutting-edge, limited-run brews released through the Alchemist Edition. Big Rock products are sold in nine provinces and two territories in Canada, and are also available in Korea.
For more information on Big Rock Brewery visit bigrockbeer.com.