E-Malt.com News article: Canada: Russell Breweries Inc. announces fourth quarter and year-end result

Russell Breweries Inc., a company that produces premium draught beer for fine pubs and eateries located in British Columbia, Canada, announced on November 16 its financial results for the fourth quarter and fiscal year ended June 30, 2005.

Revenue for the fourth quarter of fiscal year 2005 increased 159% to $318,970 from revenue of $123,078 in the comparable period of the previous year.

Revenue for the year ending June 30, 2005 was $777,054 or $64,755 per month. This is a 141% monthly increase compared the $161,008 ($26,835 per month) revenues recorded for the six month activity for the period ending June 30, 2004.

The Company had a net loss for the twelve-month period ending June 30, 2005 of $624,820 or $.10 per share.

"During the quarter we successfully achieved our revenue objectives," said Andrew Harris, President and COO. "We continued to experience significant growth in draught sales and we were able to successfully expand the brewery capacity at the same time. Our strategic plan, which we implemented when we acquired the brewery in early 2004, is very much on track and we look forward to continuing this momentum."

Harris continued, "As we continue to expand and grow the business we will focus on an aggressive sales and marketing program. We have a great team and we believe that our customer-centric focus has resulted in a growth rate that far exceeds other craft breweries in British Columbia. Taking into account the total costs of the expansion and our investment in taking the Company public during the year, we are really pleased with our progress to date."

Russell Brewing Company produces premium draught beer for fine pubs and eateries located in British Columbia. 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 the two seasonal brews, Russell Lemon Ale and Russell Winter Porter. Russell Brewing Company is a wholly owned subsidiary of Russell Breweries Inc.


18 November, 2005