Quebec liquor outlets sold more booze in the most recent quarter but made less profit.
The SAQ announced Friday that sales were up $14.3 million – or 1.4 percent for the third quarter - for a total of $1.049 billion, during the period ending January 4.
The revenues made for a net profit of $308.6 million for the third quarter, down 2.1 percent from the same time last year.
The drop in profits was due to costs that had increased 5.8 percent for a total of $169.2 million.
Expenses ate up 16.1 percent of SAQ's revenues, compared to 15.5 percent one year earlier.
Revenues were strong at specialized SAQ outlets, as those centres saw revenues rise 2.1 percent to $941.7 million. However the grocer-wholesaler sector fared less well, seeing a revenue decline of 4.3 percent to $107.2 million.
Three weeks ago, the SAQ announced the intention of cutting 60,000 workers’ hours for this year, adding onto the 80,000 hours they slashed the year prior, as brass said that customers are making fewer visits but buying more each time.
-With a file from The Canadian Press
