The SAQ announces net earnings of $412.9 million for the third quarter of its 2017-2018 fiscal year
March 23rd 2018 - In the third quarter of its financial year, which ended December 30, 2017, the Société des alcools du Québec (SAQ) reported net earnings of $412.9 million, a 0.3% increase from the corresponding period of the preceding fiscal year. The entire amount was remitted to the Quebec government to the benefit of all Quebecers.
- Dollar sales in all sales and distribution networks rose $5.4 million (0.5%) to $1.127 billion.
- Volume sales totalled 69.8 million litres, an increase of 1.7 million litres (2.5%) over the third quarter of fiscal 2016-2017.
- The store and specialized centre network had sales of $1.012 billion, up $13.1 million (1.3%).
- The corresponding volume sales increased 2.8 million litres (5.3%) to 56.1 million litres.
- For its part, the wholesale grocer network saw a 6.3% drop in dollar sales to $115 million.
- Volume sales in this network fell 1.1 million litres (7.4%) to end the quarter at 13.7 million litres.
While the price reductions implemented on some 1,600 wines and coolers beginning in the third quarter of the preceding fiscal year contributed positively to the increase in volume sales, they also had a direct impact on the growth of dollar sales.
Net expenses down
- Expressed as a percentage of sales, net expenses were 14.1%, compared with 15.7% in the third quarter of fiscal 2016-2017.
- Net expenses since the beginning of fiscal 2017-2018 totalled $396.3 million, a $26.9 million (6.9%) decrease from the preceding fiscal year. The ratio of net expenses to sales was 15.4%, compared with 16.7% for fiscal 2016-2017.
These results demonstrate the success of the SAQ’s ongoing efforts to improve the organization’s efficiency while continuing to provide high-quality advisory service to its customers.
Highlights of the quarter
An emblematic cocktail for Quebec
In collaboration with restaurateurs, mixologists and other Quebec partners, the SAQ held the Let’s Create a Cocktail for Quebec competition. More than 1,000 cocktail proposals and nearly 50,000 votes later, Quebec now has an emblematic cocktail: The Quebec Royal, which garnered more than 43% of the votes. The cocktail represents Quebec by showcasing iconic local ingredients like maple syrup and cider.
The SAQ: a preferred retailer
According to the WOW index, the SAQ ranks fifth among Quebec’s 199 top retailers when it comes to the customer experience. Impressive progress, as the SAQ was in ninth place last year and 14th place in the 2015 edition. In addition, the SAQ took second place in the specialized boutique category this year.
Our busiest day
This fiscal year, it was Friday, December 22, 2017, that had the highest sales in the fiscal year, with transactions totalling $38 million.