Business
Corby Reports Fourth Quarter Results with Full Year Revenue of +4% and Net Earnings of +15%. Dividend of $0.21 Per Share Declared
Corby Reports Fourth Quarter Results with Full Year Revenue of +4% and Net Earnings of +1...
About this update from Corby Spirit And Wine Limited Class A
[{"type":"text","content":"\n \n \n \n Corby Reports Fourth Quarter Results with Full Year Revenue of +4% and Net Earnings of +15%. Dividend of $0.21 Per Share Declared\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\ntable p, #divContent table p\n{\nmargin: 0px;\nmargin-left: 3.8px;\nfont-size: 8pt !important;\nfont-family: Arial;\ncolor: black;\nmargin-right: 0pt;\n}\ntable th, #divContent table th\n{\nfont-weight: unset !important;\ntext-align: unset !important;\nvertical-align: unset !important;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n Aug. 25, 2021\n \n /CNW/ - Corby Spirit and Wine Limited (\"Corby\" or the \"Company\") (TSX: CSW.A) (TSX: CSW.B) today announced financial results for its fiscal 2021 fourth quarter and year ended\n \n June 30, 2021\n \n .\n \n \n Consumer demand remained resilient on a full year basis, driven by dynamic retail channel and International markets growth. However, despite the positive impact of the on-premise channel reopening, Q4 saw a softening in retail domestic purchases against a high comparison base as it cycled increased consumer demand from the early stages of COVID-19 restrictions last year.\n \n \n The fourth quarter reported value growth with revenue increasing 6% compared to the three month period ended\n \n June 30, 2020\n \n , leading to full year growth of 4% (+5% excluding the impact of accelerated amortization of representation rights):\n \n \n \n Acceleration of our international market performance (+31% full year)\n \n \n Robust commission income growth (+3% full year; +8% excluding the impact of accelerated amortization of representation rights); and\n \n \n Solid domestic performance (+1% full year) and bulk sales contributed to this positive result.\n \n \n \n In this volatile environment, Corby managed its expenditures and brand investments in a purposeful and cautious way throughout the year. With the reopening of the on-premise channel and reduction of COVID-19 restrictions in Q4, we responded quickly and increased brand building investments significantly. As a result, sales, marketing and administ...