Ontario liquor sales up 5.5%

Consumers purchased $4.1 billion worth of alcohol from the Ontario liquor store in the 2007-2008 fiscal year. That was a net sales record and allowed the LCBO to deliver a dividend of $1.3 billion to the Ontario government. The 5.1% increase in the dividend marked the 14th straight year the LCBO has increased the amount […]

Consumers purchased $4.1 billion worth of alcohol from the Ontario liquor store in the 2007-2008 fiscal year.

That was a net sales record and allowed the LCBO to deliver a dividend of $1.3 billion to the Ontario government.

The 5.1% increase in the dividend marked the 14th straight year the LCBO has increased the amount it pays to the government.

Sales increased $213 million, or 5.5%, over the previous fiscal year while net income rose 6.1% to $1.37 billion.

Vodka led all major spirits, up 9%, while wine sales rose almost 6% to $1.41 billion.

LCBO president Bob Peter said it was a strong year despite concerns over high gas prices, the U.S. economy and a harsh winter that resulted in some slower days than expected during the holiday season.

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