ATLANTIC

NB Liquor and Cannabis NB report third quarter sales increases and profits

Published Wednesday, January 13, 2021 5:14PM AST

The exterior of a Cannabis NB retail store is shown in Fredericton, N.B., on Tuesday October 16, 2018. (THE CANADIAN PRESS/Stephen MacGillivray)

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FREDERICTON -- NB Liquor and Cannabis NB are both reporting third quarter revenue increases.

The two Crown corporations released their third quarter figures Wednesday for the period ending Dec. 27, 2020.

NB Liquor says total sales for the 13-week period were $132.4 million -- up 10.3 per cent compared with the same quarter last year -- with net income of $52.6 million.

Cannabis NB, meanwhile, had total sales of $19.3 million -- up 76 per cent over the same quarter in 2019.

Lori Stickles, Cannabis NB acting president, says net profit for the quarter was $2.8 million and says she anticipates a profit of $10 million for the year.

The New Brunswick government has explored the possibility of privatizing Cannabis NB's retail operation, but has yet to make a decision.

This report by The Canadian Press was first published Jan. 13, 2021.