Brick’s Waterloo brand up 37% in Q3 2015
Kitchener, ON – Brick Brewing Co. today released financial results for its third quarter ending October 25, 2015. Publicly traded Brick Brewing is considered Ontario’s largest Canadian-owned brewery.
Net Revenues for the third quarter of fiscal 2016 grew to $9.8 million, up from $9.3 million in the third quarter of fiscal 2015.
“Our craft premium Waterloo brand grew 37% and is up over 30% year to date,” noted George Croft, President and CEO. “This is prior to introduction of beer into the grocery channel which is expected to arrive on shelves in the next few months.”
During the quarter Brick incurred $147,000 in one time costs associated with the now complete Kitchener expansion project, bringing year to date one-time costs to $349,000.
“The efficiency and performance of the new brewhouse is right in line with our expectations. The improvements we’re seeing in energy, materials, and distribution are essential to our ability to compete effectively over the long term.” COO Russell Tabata noted.
Brick Brewing also introduced a new quarterly dividend to shareholders of $0.012/share.
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