This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
Corby H1 sales up 4%
Corby Spirit and Wine, majority owned by Pernod Ricard, saw organic revenue rise by 4% in the last six months of 2024.
Revenue for the first half (H1) of the company’s fiscal 2025 year reached CA$126.8 million (US$89.5m).
The group’s H1 sales increased by 11% with the inclusion of ready-to-drink (RTD) brand Nude, which Corby acquired in April 2024.
For the second quarter (October-December), Corby’s organic revenue rose by 5% to CA$58.6m (US$41.3m). Including Nude, Corby’s second-quarter sales rose by 10% to CA$61.7m (US$43.5m).
During H1, the company’s domestic case goods revenue rose by 3% to CA$93.6m (US$66m), driven by new grocery and convenience stores opening in Ontario.
Export revenue for H1 of fiscal 2025 fell by 9% to CA$7m (US$5m), despite a rebound for Canadian whisky JP Wiser’s in the US and the ‘good performance’ of Lamb’s rum in the UK.
Corby’s president and CEO, Nicolas Krantz, stated: “I am proud of Corby’s strong results in the first half of the fiscal year, which included continued value share gains and noteworthy revenue and earnings growth.
“In a challenging market context and uncertain environment, we continue to capitalise on our excellence in execution and leverage the strength and diversity of our portfolio to adapt successfully to channel expansion opportunities.”
Earlier this month, US president Donald Trump levied a 25% tariff on Mexican and Canadian goods, only to postpone them until 4 March.
Addressing the tariff situation, Krantz said the business was “closely monitoring regulatory and trade changes”.
He continued: “However, regardless of the environment, we are confident in the resilience of our business, our ability to leverage our competitive advantages for value share gains, and the ability of our dedicated team to execute successfully on our strategic roadmap.”
Corby took a 90% stake in Canada’s leading RTD producer, Ace Beverage Group, in June 2023.
Canada’s RTD boom
Corby highlighted that the country’s overall spirits market declined by 1.9% in value in the last 12 months, notably impacted by the Liquor Control Board of Ontario’s (LCBO) strike in July 2024.
The company also noted that the strike affected the RTD category during the first quarter (July-September) but the sector was boosted by the Ontario government’s move to allow convenience stores to sell spirits-based RTDs.
The RTD category in Canada remains one of the fastest-growing categories overall in the last 12 months, up by 6.8% in value, Corby said.
Corby also claims to have ‘outperformed’ the Canadian spirits market in value for more than two years, gaining share in most categories over this timeframe.
Over the past 12 months, the company’s spirits sales dipped by 0.3% year over year but Corby’s RTD sales (excluding Nude) increased by 12%, both ‘outpacing the market in value growth’.
Based in Ontario, Corby is the second-largest marketer and distributor for spirits and wines in Canada, and is majority owned by Pernod Ricard, which distributes its products in the region.
Related news
Trump delays US tariffs on Mexico and Canada again