13 April, 2017

Canada, ON: Brick Brewing reports increase in fourth-quarter sales, profits, and beer volumes

Brick Brewing's fourth-quarter sales and profits jumped as its beer volumes rose.

The Kitchener-based company earned net income of C$720,000 on net revenue of C$10.5 million in the three months ended Jan. 31. That's up from net income of C$492,000 and net revenue of C$9 million in the fourth quarter a year earlier.

For the entire fiscal year, Brick earned net income of C$4 million of net revenue of C$45.1 million. It had net income of C$1.6 million on revenue of C$37.6 million a year earlier.

"This past year was clearly an inflection point for Brick Brewing," chief executive officer George Croft said in a news release. "We have been able to drive double digit growth in volume, expand margins, while increasing our investment in both our brands and our facility."

Brick said volume for its Laker and Waterloo brands both increased 15 per cent. Laker accounted for 76 per cent of Brick's beer volumes last year, while the Waterloo premium brands accounted for nine per cent.

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