E-Malt.com News article: Canada: Russell Breweries announces a 46.7% increase in 2007 net revenues

Russell Breweries Inc. a producer of hand crafted premium beer, reported results for its fiscal year ended June 30, 2007, in a company press release, October 30.

Net revenues for the fiscal year 2007 increased 46.7% to $1,324,234 from net revenue of $902,988 (restated) in the previous year.

The Company incurred a net loss of $1,002,292 or $0.09 loss per share for the year ended June 30, 2007 compared to $382,508 (restated) or $0.04 (restated) loss per share for the previous year.

"2007 was another excellent year of growth for our Company," said Andrew Harris, President. "Considering that we only sell our beer in draught format in BC, this was a solid performance. We are now well positioned for the introduction of our brands in cans and bottles."

"The increase in expenses during the year are related to the continued expansion of our business, including a doubling of brewery capacity; product branding expenditures; non cash stock compensation expense and non capitalized costs relating to corporate activities including migrating to a TSX listing from the CNQ and financing and acquisition activities," said Brian Harris, CEO. "We recently completed the amalgamation with Fort Garry Brewing Company, Manitoba's largest brewery, which is cornerstone in our strategic plan. With a state of the art brewery located in Manitoba and the expanded brewery in BC, we can now start marketing our brands in all package formats into the four Western Provinces."

For further details the Company's complete MD&A and financial statement for the year ended June 30, 2007 will be available on SEDAR at www.sedar.com and the Company's web site at www.russellbeer.com.

Russell Brewing Company produces premium beer in British Columbia. In 2006, Russell was recognized as BC's fastest growing brewery. Using all natural ingredients and traditional beer-making techniques, Russell beer is brewed for people who love beer. Products include: Russell Cream Ale, Russell Pale Ale, Russell Honey Blonde Ale, Russell Extra Special Lager plus two seasonal brews, Russell Lemon Ale and Russell Winter Porter. Russell Brewing Company and Fort Garry Brewery Company Ltd., are wholly owned subsidiaries of Russell Breweries Inc.


31 October, 2007