Big Rock Brewery Inc. (TSX: BR) today reported the company’s financial results for the three months ended June 30, 2021. The company recorded gross revenues of $18.6 million for the quarter, versus the $16.8 million realized for the same period last year.
On a net basis, revenue for the second quarter climbed to $13.7 million, compared to last year’s $11.9 million, despite Big Rock’s sales volumes being down 1.0% from 46,693 hl to 46,233 hl. Cost of sales meanwhile amounted to $8.3 million, resulting in gross profits of $5.4 million, compared to a gross profit of $4.8 million in the year-ago period.
Big Rock meanwhile saw expenses increase by $0.6 million to $4.3 million, with the company attributing the increase to increases in distribution between provinces.
The company’s operating income was recorded at $1.1 million, showing no changes from the year ago quarter. Big Rock’s net income meanwhile increased to $0.8 million in the quarter, versus a net income of $0.6 million realized in the same period last year.
Lastly, tThe company’s adjusted EBITDA decreased to $2.0 million, compared to last year’s adjusted EBITDA figure that was recorded at $2.5 million.
Big Rock Brewery Inc. last traded on the TSX at $5.85.
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