Cannabis sales in Nova Scotia see double-digit jump in NSLC fiscal year
Global News
The NSLC say cannabis sales in the fiscal year ending March 31 jumped by more than 18 per cent. In comparison, alcohol sales were up just under 2 per cent.
Nova Scotia Liquor Corp. (NSLC) says earnings topped $268.7 million in its latest year-end financial report.
According to the report released Tuesday, NSLC saw total sales in the fiscal year ended March 31 of $820.5 million, an increase of 3.5 per cent from the prior fiscal year.
Alcohol sales were up by 1.7 per cent, or $718.7 million, though there was a 0.1 per cent decrease in the volume of beverages bought.
Cannabis saw a whopping 18.2 per cent increase in sales — the strongest growth of all categories — to $107.7 million overall.
“We undertook some large corporate initiatives this fiscal year while continuing to manage our operations through the pandemic,” said Greg Hughes, chief executive of NSLC.
NSLC opened 13 new cannabis stores in the past year which contributed to the 2022 rate.
“This improved access to a safe supply of cannabis along with a further reduction in prices as we work to impact sales in the illicit market,” Hughes said.
It also launched home delivery for alcohol products.
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