Business
Corby Spirit and Wine Limited reports its fiscal 2023 third quarter results and announces dividend of $0.21 per share.
Corby Spirit and Wine Limited reports its fiscal 2023 third quarter results and announces dividen...
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 third 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 May 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 third quarter financial results for the three-month period ended\n \n March 31, 2023\n \n (\"\n \n Q3\n \n \") and the nine-month period ended\n \n March 31, 2023\n \n (\"\n \n FYTD March\n \n \").\n \n \n \n FYTD March performance resilient with Revenue and Net Earnings flat vs LY\n \n \n \n Q3 Revenue -7% and Net Earnings -10% lapping high comparison basis amplified by supply constraints\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 June 6, 2023\n \n \n to shareholders of record as at the close of business on\n \n May 23, 2023\n \n .\n \n \n \n \n CONSUMER TREND\n \n \n \n \n Consumer demand year-to-date remains resilient with progressive normalization across the Off and On premise channels. The domestic spirits category continues to show solid value growth against flat volumes, driven by pricing and mix premiumization.\n \n \n \n \n FINANCIAL RESULTS\n \n \n \n \n \n Revenue\n \n for the\n \n fiscal year to date\n \n \n are in line with\n \n the same period last year, driven by:\n \n \n \n \n Strong domestic performance\n \n for\n \n Case Goods\n \n \n sales\n \n \n +5%\n \n with strong underlying demand and broad-based price increases across the portfolio; offset by\n \n \n \n Adverse performance\n \n in\n \n international markets\n \n...