The local cannabis industry is booming, according to the Nova Scotia Liquor Corporation’s year-end earnings report.
Sales of locally grown cannabis spiked up a whopping 40.1 per cent, to total $23.6 million in sales for the liquor corporations 2021/22 fiscal year.
“We’re pleased to see customers are passionate in their support of our local industry partners,” Greg Hughes, President & CEO said in a news release.
NSLC added 13 new Cannabis locations to stores across the province in the last year.
“We are delivering on our strategic priorities to support the growth of local industry and ensure we offer access to a safe and secure supply of cannabis across the province,” Hughes said.
Meanwhile, total marijuana sales are up by 18.2 per cent, totaling $101.7 million.
That’s compared to $86 million in total cannabis sales for the previous fiscal year.
However, because the profit margins are smaller on cannabis and local products, total earnings for the NSLC were down $268.7 million this past year.
Alcohol sales were also up 1.7 per cent from the 2021/2 fiscal year, to total $718.7 million dollars.
Total NSLC sales went up by 3.5 per cent in the fiscal year ending March 31; All told, $820.5 million was spent at the NSLC on all products.
