Big Rock Brewery Inc. Announces 2011 Financial Results and Executive Change
(firmenpresse) - CALGARY, ALBERTA -- (Marketwire) -- 03/20/12 -- Big Rock Brewery Inc. (TSX: BR) ("Big Rock" or the "the Brewery") announced its financial results today for the year ended December 30, 2011. The total volume of sales for the year ended December 30, 2011 was 220,973 hectolitres ("hl"), an increase of four percent compared to the prior year and the highest annual sales volume in the history of Big Rock.
Within the industry, domestic beer volume declined 0.5%; however, Big Rock was able to increase market share by focusing efforts on the western provinces in which the Brewery's brands have a very strong presence. Big Rock maintained its pricing strategy throughout the year, which positioned its craft brands as leaders in the premium segment, while its value- priced brands delivered volume through consumers who look for quality brands priced at the lower end of the category.
"We grew our volume to an all-time high", says Ed McNally, Big Rock Chairman. "Not only did we accomplish this in a declining industry, we were also able to invest in our future growth by introducing new packaging throughout our portfolio and launching the Big Rock seasonal brands created by our brewing team in our new 20 hectolitre pilot brewery".
"From an accounting perspective, 2011 has been a year of significant transition" says Big Rock CFO, Barbara Feit, "with the combined impact of the adoption of IFRS and the conversion from an income trust to a corporation having an impact on 2010 restated results." Net income for year ended December 30, 2011 increased to $2.5 million compared to a net loss of $8.2 million reported for the year ended December 31, 2010. Operating profit was $3.3 million for the year ended December 30, 2011 compared to $4.1 million for the year ended December 30, 2010. The decreased operating profit for 2011 results largely from higher delivery costs and a demand- driven increase in the proportion of value-priced beer sold by the Brewery, which decreased net revenue per hl as compared to 2010. The increase in cost of sales was in line with increased sales volumes.
In addition, Big Rock announced today that Bill McKenzie, President, has resigned from the Brewery to pursue other interests. The Big Rock Board expressed their appreciation for Mr. McKenzie's contributions and wished him future success. For his part, Mr. McKenzie says, "I'd like to thank all the staff at Big Rock for making my time at the company such an enjoyable experience."
The Financial Statements and Management Discussion and Analysis dated March 20, 2012 can be viewed on Big Rock's website at bigrockbeer.com/corporate and on SEDAR at sedar.com under Big Rock Brewery Inc.
About Big Rock Brewery Inc.
Big Rock Brewery Inc. - headquartered in Calgary, Alberta - produces premium, all-natural craft beers. As Canada's leading craft brewer Big Rock boasts a family of twelve exceptional ales and lagers (including their newest brew IPA), Rock Creek dry apple cider and an ongoing selection of seasonal beers soon to be unveiled in the new Brewmaster's Series. Big Rock products are sold in nine provinces and three territories in Canada and they are also available in Korea.
For more information on Big Rock Brewery visit bigrockbeer.com
Contacts:
Big Rock Brewery Inc.
Christy Sterling
Sales and Marketing Coordinator
(403) 203-3737
Big Rock Brewery Inc.
Barbara Feit, CA
Chief Financial Officer
(403) 720-4465
(403) 236-3641 (FAX)
bigrockbeer.com
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 20.03.2012 - 18:00 Uhr
Sprache: Deutsch
News-ID 1094830
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
CALGARY, ALBERTA
Phone:
Kategorie:
Beverages
Anmerkungen:
Diese Pressemitteilung wurde bisher 119 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Big Rock Brewery Inc. Announces 2011 Financial Results and Executive Change
"
steht unter der journalistisch-redaktionellen Verantwortung von
Big Rock Brewery Inc. and Big Rock Brewery Ltd. Partnership (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
