Business
Corby Spirit and Wine Reports First Quarter Results and Quarterly Dividend
Corby Spirit and Wine Reports First Quarter Results and Quarterly Dividend Cana...
About this update from Corby Spirit And Wine Limited Class A
[{"type":"text","content":"\n \n \n \n Corby Spirit and Wine Reports First Quarter Results and Quarterly Dividend\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 \n \n \n \n \n \n Canada NewsWire\n \n \n TORONTO, Nov. 12, 2020\n \n \n \n \n \n TORONTO\n \n ,\n \n Nov. 12, 2020\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 first quarter ended\n \n September 30, 2020\n \n . The Corby Board of Directors today also declared a dividend of\n \n $0.22\n \n per share payable on\n \n December 11, 2020\n \n on the Voting Class A Common Shares and Non-Voting Class B Common Shares of the Company to shareholders of record as at the close of business on\n \n November 27, 2020\n \n .\n \n \n Dynamic consumer demand within the off-premise channel has offset the severe interruptions in the on-premise and travel retail channels. Although some brands were negatively impacted by effects of COVID-19 pandemic restrictions, others were boosted by new opportunities in at-home consumption occasions and in ecommerce.\n \n \n On the back of this resilient environment, some liquor board customers have ordered strongly in the first quarter of fiscal 2021 to build stock ahead of the key second quarter trading period. As a result, the Company saw strong shipments in the quarter ended\n \n September 30, 2020\n \n , leading to 9% top-line growth for Corby owned brands and commission income growth of 30% compared to the same period last year. Overall, the quarter enjoyed robust revenue growth of 12%.\n \n \n In a very volatile environment, rigor and caution were applied to advertising and promotion expenses as we continued to invest purposefully behind our key strategic brands and channels. In addition, overhead expenses were strictly controlled. As a result, total marketing, sales and administration expenses decreased significantly by 14% in the three-months ended\n \n September 30, 2020\n \n .\n \n \n With strong top-line growth and reduced expenses, the quarter ended\n \n September 30, 2020\n \n saw an unusually high net e...