SAQ posts higher net income and revenues for third quarter

The SAQ outlet on St. Laurent Blvd. at Ave. des Pins. (Daniel J. Rowe/CTV News)

Quebec's public liquor corporation (Société des alcools du Québec) posted a 6.8 per cent increase in sales on Monday for its third quarter which ended Jan. 1. The SAQ attributed in part to the easing of sanitary measures before the arrival of the Omicron variant wave of COVID-19.

The SAQ's net income was $495.7 million, up 8.1 per cent from $458.6 million during the same period a year earlier.

Revenues increased from $1.267 billion in the third quarter last year to $1.354 billion in the most recent quarter. On a volume basis, however, sales growth was lower, at 1.2 per cent down to 75.8 million litres.

Sales in stores and specialty centers rose 10.1 per cent and sales in the restaurant and bar sector, which was gradually reopening, rose 7.5 per cent.

Online sales were down 6.2 per cent in the third quarter compared to the previous year and represented only 3.4 per cent of consumer sales.

The SAQ's net expenses -- sales and marketing, distribution and administrative expenses, less advertising, promotional and other revenues -- rose 1.6 per cent to $179.7 million. However, when expressed as a percentage of sales, they showed a ratio of 13.3 per cent, compared with 14.0 per cent in the same period last year.

-- This report by The Canadian Press was first published in French on March 28, 2022.