St. John’s, Newfoundland and Labrador, Thursday, May 29, 2025 - NLC today released its financial and operational results for the fourth quarter of fiscal year 2025 ended April 5, 2025. All information is unaudited.

NLC reported net earnings for the quarter of $41.9 million, a decrease of $2.2 million, or 5.0%, compared with Q4 of fiscal year 2024. Net earnings for fiscal year 2025 total $211.0 million, an increase of $3.0 million or 1.4% from the prior year. The dividend paid by NLC to the Government of Newfoundland and Labrador totalled $51.0 million for the quarter, bringing the dividend remitted in fiscal year 2025 to $214.5 million, $11.5 million higher than the dividend remitted in fiscal year 2024. NLC has a floating year end which ends on the first Saturday of April. The current fiscal year contains 52 weeks whereas fiscal year 2024 contained 53 weeks which contributes to the sales and net earnings decrease noted in the current quarter when compared to prior year results.

Again, this year, NLC recorded record sales and earnings. For fiscal year 2025, alcohol and cannabis sales total $375.9 million compared to $364.0 million for the prior year, with ready-to-drink (RTD) beverages and cannabis sales seeing the largest increases over the prior year.

“The effort and dedication of our entire team at NLC has been outstanding this past year,” said Bruce Keating, NLC President and CEO. “With a year of exceptional sales and earnings for both beverage alcohol and cannabis, we’re proud to provide a record dividend of $214.5 million to Government to help support key public programs and services within the province. Beyond this, we’ve come together to not only deliver on our mandate but to do so with the highest level of customer service, social responsibility, and integrity to better serve the people of Newfoundland and Labrador.”

Beverage Alcohol sales for Q4 were $57.2 million, down 8.0% from the prior year. Compared with Q4 of 2024, spirits sales were down 12.6%, wine sales were down 10.2%, RTD sales increased 6.5%, and beer sold through NLC corporate Liquor Stores decreased 4.1%.

Beverage alcohol sales overall were up 1.1% in fiscal year 2025 over fiscal year 2024, to $308.2 million, with an increase in most product categories. Wine sales increased 1.1%, RTD sales were up 18.1%, and beer sales increased by 0.9%, while spirits decreased 3.1% compared with the prior year.

Sales through NLC’s corporate Liquor Stores were down 6.0%. Liquor Express outlets experienced a decrease of 16.7% compared to Q4 of the prior year. Sales through NLC’s corporate Liquor Stores were up 2.2% for fiscal year 2025 vs. 2024, while Liquor Express outlets were down 1.1% from the prior year.

NLC continued to support local business throughout Q3 by listing 63 beverage alcohol products from local producers. NLC also launched is Local Producer Handbook to help local alcohol producers work with the NLC to promote and sell their products.

NLC also earns commissions on the sale of beer through Brewers’ Agents. These commissions for the quarter totalled $17.7 million, up 2.5% over Q4 of fiscal year 2024. For fiscal year 2025, commissions were down 1.3% compared to prior year, for a total of $70.1 million.

During the quarter, NLC continued to invest in the customer experience by renovating its corporate Liquor Store locations on Ropewalk Lane in St. John’s and Labrador City. In the past four years, NLC has renovated 21 of its 28 corporate Liquor Stores. Enhancements included new flooring, energy efficient lighting, digital monitors, expanded cooler space, and optimized store layout and design. NLC’s investment towards an enhanced customer experience during fiscal 2025 also included continued training to all NLC retail team members of the Graff Retail sales training program, Ready to Serve, designed specifically for the beverage alcohol industry.

NLC supported local business in Q4 by listing 100% of the beverage alcohol products that were presented by local producers. NLC also continues to promote the Government of Newfoundland and Labrador’s Buy NL campaign in all corporate Liquor Stores and Liquor Express locations, as well as on its retail website. NLC also provided financial support to local alcohol producers and licensees which totalled $7.8 million in the fiscal year.

Cannabis sales through licensed cannabis retailers (LCRs) totalled $26.4 million in Q4, an increase of 16.3% over Q4 of the prior year. Total retail cannabis sales in Q4, including online sales, were $26.5 million.

Total retail cannabis sales for fiscal year 2025 increased by 17.4% over the prior year to $102.8 million. NLC also incurred an increase of 10.5% in cannabis commissions and premiums payable to licensed cannabis retailers and local cannabis processors/producers through the fiscal year. This is primarily due to the increased sales volume.

Cannabis NL was pleased to welcome three new LCRs in Q4 in Bay Roberts, Corner Brook and Placentia. As of the end of fiscal 2025 there were 59 LCRs in Newfoundland and Labrador.

NLC continues to support local cannabis producers in the province through its product listing process and continues to work with local producers to grow the industry. NLC also supports local cannabis producers with premiums for product sold in the province. The total support provided to local cannabis producers was $1.9 million.

Rock Spirits produced 89,000 cases of spirits and 2,400 cases of RTDs and beer during Q4, an increase of 41% in spirits and 140% in RTDs and beer over the same period the previous year. During the 2025 fiscal year, Rock Spirits produced a total of 272,000 cases of spirits and 14,000 cases of RTDs and beer, a decrease of 12% for spirits but consistent with the previous fiscal year for RTDs. The decrease in spirits was driven primarily by a reduction in demand for the product of some of our co-packing partners, as well as by the timing of production.

During Q4, Rock Spirts signed a five-year agreement with The Newfoundland Distillery Company (NDC) to continue production of NDC’s products in Newfoundland and Labrador. Other notable partnerships throughout fiscal 2025 included a five-year agreement with Globefill Incorporated to continue the production of Crystal Head Vodka products in the province, and a three-year agreement with Atlantic Spirits and Wine Limited to represent Rock Spirits’ products in Newfoundland and Labrador. Rock Spirits also expanded its own portfolio with the launch of a new RTD, Screech Creamsicle. Rock Spirits will continue to seek out local and international partnership opportunities moving forward.

NLC continued to work with partners in law enforcement during fiscal year 2025 to monitor illegal cannabis activity. In Q4, NLC’s Compliance and Enforcement team conducted an operation on the west coast of the province that resulted in a seizure of illicit alcohol and cannabis, with an estimated value of $23,000. While the legal cannabis industry in Newfoundland and Labrador is seeing continued growth, NLC remains committed to protecting the community and supporting LCRs by further disrupting the illicit market.

NLC conducted 912 inspections on liquor establishments and LCRs in Q4, as it continues to work closely with the licensee community. This represents a 20% decrease over the number of inspections conducted during the same period in fiscal year 2024. During the 2025 fiscal year, NLC conducted 3,221 inspections on liquor establishments and LCRs, down 14% from the prior year due to a change in availability of human resources in the department.

NLC continues to place greater focus on driving positive change within the province by ensuring that Corporate Social Responsibility is an integral part of the corporation’s everyday operations.

As part of NLC’s commitment to a compelling workplace, senior leaders as well as members of the corporation’s diversity, inclusion, and belonging committee took part in a strategic planning session in Q4. Facilitated by DiversityNL, the session laid the groundwork for NLC to further build a culture where employees feel valued, included, and heard. NLC also continued development of its 2024-2026 Accessibility Plan by finalizing key action items for the 2026 fiscal year, in partnership with Empower NL. Using the Accessibility Plan as a guide, the corporation will continue to work towards identifying and removing barriers to policies, programs, and practices, and ensuring inclusive and accessible environments for employees and customers.

NLC also continues its commitment to giving back to the community. During Q4, NLC held its Push for Mental Health campaign, in support of the Canadian Mental Health Association - Newfoundland and Labrador. With the help of customers, supplier partners, and employees, $44,932 was raised, helping to provide essential mental health support and services throughout the province. Throughout fiscal 2025, NLC’s quarterly corporate fundraising campaigns have raised over $232,000 in support of food security, as well as mental health and community wellness programs.

To further promote the responsible use of alcohol and cannabis, NLC expanded its reach of its End Impaired Driving campaign at the community level during Q4. The campaign, which was installed in hockey arenas across the province, aims to bring attention to the importance of responsible decision-making and the permanent impact of impaired driving — lives lost forever and endless grief for those left behind.

NLC is a Crown Corporation of the Government of Newfoundland and Labrador with responsibility through the Liquor Corporation Act, the Liquor Control Act, and the Cannabis Control Act for the importation, sale, distribution and management of beverage alcohol and cannabis. NLC also ensures the delivery of programs that promote safe, responsible consumption.

NLC is one of the largest retailers in the province. Through 28 corporate retail locations, over 140 liquor express stores, more than 550 Brewer’s Agent outlets, and over 1,400 restaurants, lounges, and other licensees, along with private order services, NLC offers over 4,000 products per year to consumers and its retail partners from more than 20 countries. It also regulates and distributes to 59 licensed cannabis retailers across the province, and offers customers a secure, legal online environment for cannabis purchases via ShopCannabisNL.com. NLC operates a 77,000 square foot distribution centre, as well as a manufacturing operation, Rock Spirits. The facility, which runs world-class blending, bottling and canning operations, ships to more than 30 countries around the world and has been in operation for over 70 years.

NLC operates with the expectation that it will generate revenue for the Government of Newfoundland and Labrador, with 100% of its profits reinvested in the province to fund key public services. NLC aspires to build trust in everything it does - with customers, employees, retailers, commercial partners, and communities, along with Government, to ensure a stronger Newfoundland and Labrador.