Brick brewing up a strong year
Posted Apr 25, 2013 06:24:35 AM.
This article is more than 5 years old.
Kitchener’s Brick Brewing Company is honing its craft, and it continues to pay off.
Net revenue for the brewer’s fourth quarter came in at $8.1-million, up from last year’s fourth-quarter performance of $7.3-million.
That brings total revenues for the 2013 fiscal year to $35.8-million.
In 2012, Brick Brewing saw a net revenue of $34.1-million.
Profits in 2013 grew to 25.4 per cent, from 23.4 per cent last year.
COO Russell Tabata says they are working hard at running a great company, and credits the growth to the stability of the Laker family of value beers.
He says they’ve also seen double-digit growth in its craft brewing division, Waterloo Brewing Co., which launched last year, and it Seagram brand spring water coolers and pure apple cider.
Tabata says it was an impressive wave of new products introduced to the Ontario market in an incredibly short period of time.
“A stable Laker business, three new co-packaging agreements, Waterloo Brewing Co. volume up 30 per cent on the year and Seagram up 14 per cent demonstrate that the strategic choices we’ve made are working,” added George Croft, President and CEO.
He adds these financial and market achievements are all the more significant as they have been achieved despite difficult industry conditions.
