Profits are not stagnating at the Société des alcools du Québec (SAQ). The Crown corporation took in nearly half a billion dollars in its third fiscal quarter, which includes the holiday season.
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On Monday, the management of the SAQ unveiled its results for its fiscal year ended on 1er last January. Its profits reached $495.7 million, a jump of $37.1 million from a year earlier.
Despite government restrictions for restaurants and bars due to the pandemic, the SAQ achieved sales of $1.35 billion during this period. This is an increase of 6.8%.
“The easing of sanitary measures, which began in the second quarter, continued until the end of December, thus contributing to the increase in sales of the SAQ”, argues management in a press release.
The Crown corporation says it also benefited from the fact that people traveled less outside the province, especially during the holidays.
More details to come…