Chambly, August 16, 2002 – For the second quarter ended June 30, 2002, Unibroue reports sales of $6,123,456 compared to $5,924,922 for the same period last year, representing an increase of 3.4%. Net earnings are up by 19.5%, from $300,459 to $358,949.

Sales for the six-month period ended June 30 reached $10,934,697 in 2002, compared to $9,875,773 in 2001, representing an increase of 10.7%. Net earnings for this period showed a 34% increase, from $342,719 to $459,331. Net earnings per share were $0.07, compared to $0.05 in 2001.

During this six-month period, the increase in sales for the Québec market was 9.4%. These results are extremely positive, particularly when compared to the Québec beer industry’s 2.3% decrease in sales for that same period, according to the results published by the Brewers Association of Canada.

Unibroue CEO André Dion said: “After over two years with sales at a standstill in the Québec market, combined with a highly competitive and aggressive environment, these results clearly demonstrate that the commercial strategy we adopted last fiscal year, prioritizing investments in our sales force, was appropriate.”

In foreign markets, the increase in deliveries for the first six months of 2002 was even more significant, with 16.5% over the same period last year, led by the United States and Ontario, showing respective increases of 44.1% and 43.2%.

“We’re definitely back in a upward trend, as these mid-fiscal results show, and we intend to keep going through providing top-quality products and pursuing our corporate strategy that proved very effective,” said Mr Dion.

To get the finacial statements :
Excel spreadsheet