Corby Spirit and Wine Ltd. says it has benefited from

provincial trade measures

that removed American alcoholic drinks from shelves by boosting revenues for its Canadian brands in the fourth quarter of fiscal 2025.

The company said it had revenue of $72 million for the quarter ended June 30, an eight per cent increase from the same period a year ago.

“Our success today reflected our

proudly Canadian

sales execution, with our commission and local brands gaining share on U.S.-origin spirits being removed from shelves across most provinces since March,” chief executive Nicolas Krantz said during the company’s earnings call on Thursday.

He said the shift away from U.S. brands in Canada created an opportunity for the Toronto-based manufacturer, marketer and importer of spirits, wines and ready-to-drink cocktails.

Earlier this year, provinces such as Ontario, British Columbia, Quebec, Nova Scotia and Newfoundland and Labrador announced their provincial liquor authorities would stop stocking and selling some or all U.S.-produced alcohol until U.S. President

Donald Trump

’s

tariffs

were dropped.

For example, on March 4, the

Liquor Control Board of Ontario

(LCBO), one of the world’s biggest alcohol purchasers, officially announced it would stop selling U.S. products in response to the tariffs.

At the time, the LCBO said more than 3,600 products from 35 U.S. states were listed and that U.S. products would not be purchased by the LCBO until it was directed to resume normal business.

Corby said that following the removal of U.S.-origin spirits in key provinces, its over-the-counter sales of spirits grew four per cent in the fourth quarter.

Its ready-to-drink products surged 22 per cent in the quarter, outperforming the overall ready-to-drink category, which grew nine per cent, due to what the company said are shifting consumer preferences and expanding distribution points in Ontario.

For fiscal 2025, Corby said its revenue was $246.8 million, a seven per cent increase from the prior year, while its

net earnings were 
$27.4 million, a 15 per cent year-over-year increase.

Corby said year-over-year retail sales of spirits in Canada

declined

six per cent in volume and five per cent in value in the 12 months ending June 30, due to both LCBO store closures during a labour strike in July 2024 and a change in purchasing patterns in Ontario as the province allowed alcohol sales in convenience stores.

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The declines were led by vodka, rum and bourbon sales, but overall ready-to-drink beverage sales increased six per cent in volume and seven per cent in value, in large part because of grocery and convenience store sales in Ontario.

• Email: dpaglinawan@postmedia.com