Financial results for the third quarter of fiscal 2012-2013
Sales are up 1.2% while profit grows 1.6%
Montreal, March 15, 2013 – For the third quarter of its 2012–2013 fiscal year, which ended on January 5, 2013, the SAQ recorded sales of $1.035 billion, an increase of $12 million or 1.2% from the corresponding quarter of the preceding year. The SAQ also reported a profit of $388.6 million for the 16-week period, up $6 million or 1.6% from the same quarter in fiscal 2011–2012. Thus, after 40 weeks of operation, the company’s profit had reached $855 million, a rise of $36.7 million or 4.5%.
Net expenses in the third quarter totalled $159.9 million, compared with $155.9 for the preceding quarter. Under control, net expenses amounted to 15.5% of sales, versus 15.2% in fiscal 2011–2012. Forty weeks into the fiscal year, the percentage was 16.8%, as opposed to 16.9% in fiscal 2011–2012.
Sales in the outlet and specialized centre network increased 1.8% or $16.6 million to $922.6 million. Meanwhile, sales in the wholesale grocer network fell $4.5 million or 3.9% to $112 million.
As for volume sales by product category, the large wine category experienced a slight decline to 53.9 million litres in the third quarter, a decrease of 0.2 million litres or 0.4%. The spirits category, whose products are sold exclusively through the outlet and specialized centre network, remained stable at 8 million litres for the quarter. For its part, the imported and microbrewery beers, ciders and related products category also remained stable at 1.2 million litres sold. Lastly, sales of coolers fell 0.2 million litres to end the third quarter at 1.6 million litres.