Business
RUM Reports Q2 2022 Consolidated Financial Results
EDMONTON, AB / ACCESSWIRE / August 26, 2022 / Rocky Mountain Liquor Inc. (TSXV:RUM) (the "...
About this update from Rocky Mountain Liquor Inc.
[{"type":"text","content":"RUM Reports Q2 2022 Consolidated Financial ResultsEDMONTON, AB / ACCESSWIRE / August 26, 2022 / Rocky Mountain Liquor Inc. (TSXV:RUM) (the \"Company\" or \"Rocky Mountain\"), listed on the TSX Venture Exchange (the \"Exchange\"), today reported its financial results for the three month and six month periods ending June 30, 2022.KEY OPERATING AND FINANCIAL METRICSThe following table summarizes key operating and financial metrics of the Company's financial performance for the three and six month periods ending June 30 2022 and 2021. 3 months ended 6 months ended Jun 2022 Jun 2021 Jun 2022 Jun 2021 Sales $11,053,602 $12,476,170 $19,696,952 $21,972,994 Gross Margin 22.7% 22.7% 22.6% 22.5% EBITDAR (1) $813,061 $1,105,648 $1,105,705 $1,580,897 Net Income $230,105 $547,443 $18,516 $460,334 Upon the onset of the COVID-19 pandemic in March 2020, Alberta liquor stores experienced unprecedented sales levels. Sales for the three month period and six month period ended 2022 are lower 2021 due to a return to on-premises consumption in a post COVID-19 environment. The Company has previously advised stakeholders to expect reductions in sales in 2022 versus 2021 as restrictions to on-premise liquor consumption sites have been lifted.For the three month period ended June 30, 2022 margins are consistent with the same quarter ended June 30, 2021 at 22.7%. Margins have remained reasonably consistent for the six month period ended June 30, 2022 at 22.6% and 22.5% ended June 30, 2021. The Company refines its marketing, pricing and promotional strategies to maximize gross margins and continually uses competitive pricing strategies to optimize market share.Management's focus remains on the improvement of the in-store experience for our consumers.Detailed information in the form of the Company's interim consolidated financial statements and Management Discussion and Analysis are available under the Company's profile on SEDAR at www.sedar.com and also on the Company's website at www.ruminvestor.com. After accessing the website, please choose the \"Investor Relations\" tab to view Quarterly Reports.About Rocky MountainRocky Mountain owns 100% of Andersons Liquor Inc. (\"Andersons\"), headquartered in Edmonton, Alberta, which now owns and operates 26 private liquor stores in that province, up from 18 stores since the Common Shares began trading in December ...