Canada, ON: Brick Brewing reports lower third-quarter profits due to operating challenges
Brick Brewing's third-quarter profits fell as the beer maker faced operating challenges related to the consolidation of production in its Kitchener facility, TheRecord.com reported on December 8.
Brick said on December 8 it earned net income of C$387,015 in the three months ended Oct. 29, down from profits of C$854,434 in the third quarter a year ago. Revenue increased slightly to C$11.7 million from C$11.1 million.
The company said that the commissioning of new equipment associated with the transition of production from its former brewery in Formosa to its facility on Bingemans Centre Drive negatively affected its margins in the third quarter. It said it started seeing improvements to operating performance late in October.
Brick noted that sales volume of its Laker brand increased 4.1 per cent in the third quarter compared to the same period a year earlier; sales volume of its Waterloo premium brand grew 9.6 per cent.
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