Business
Corby Spirit and Wine Limited reports its fiscal 2023 second quarter results and announces dividend of $0.21 per share
Corby Spirit and Wine Limited reports its fiscal 2023 second quarter results and announces divide...
About this update from Corby Spirit And Wine Limited Class A
[{"type":"text","content":"\n \n \n \n Corby Spirit and Wine Limited reports its fiscal 2023 second quarter results and announces dividend of $0.21 per share\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}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Feb. 8, 2023\n \n \n /CNW/ - Corby Spirit and Wine Limited (\"Corby\" or the \"Company\") (TSX: CSW.A) (TSX: CSW.B) today announced its fiscal 2023 second quarter financial results for the three-month period ended\n \n December 31, 2022\n \n (\"\n \n Q2\n \n \") and the six-month period ended\n \n December 31, 2022\n \n (\"\n \n H1\n \n \").\n \n \n \n Robust H1 performance with Revenue +3% and Net Earnings +3%\n \n \n \n Q2 Revenue +1% and Net Earnings -4% reflecting solid domestic performance in inflationary context\n \n \n \n Quarterly Dividend declared of\n \n $0.21\n \n per share, normalizing to pre-pandemic levels\n \n \n \n \n \n QUARTERLY DIVIDEND\n \n \n \n \n The Corby Board of Directors is pleased to declare a\n \n dividend of\n \n $0.21\n \n \n per Voting Class A Common Share and Non-Voting Class B Common Share of the Company, in excess of the Company's dividend policy and normalizing to pre-pandemic levels. This dividend is\n \n payable\n \n on\n \n \n March 3, 2023\n \n \n to shareholders of record as at the close of business on\n \n February 23, 2023\n \n .\n \n \n \n \n CONSUMER TREND\n \n \n \n \n \n Consumer demand was dynamic\n \n during Q2 with the\n \n on-premise channel\n \n still in a state of recovery driving the value growth while the\n \n off-premise retail channel\n \n remained flat in value, lapping a good performance last year.\n \n \n \n \n FINANCIAL RESULTS\n \n \n \n \n \n Revenue\n \n for the\n \n second quarter\n \n was\n \n up +1%\n \n compared to the same period last year. This quarter's performance was achieved by cycling a high comparison basis during the same period last year. Revenue streams were comprised of:\n \n \n \n \n Solid domestic growth +4%\n \n reflecting strong consumer demand for our Corby-owned brands and pricing initiative...