Russell Breweries Inc. (TSX-V:RB) reported an 86% increase in revenue for its third fiscal quarter ending March 31, 2007, as the Surrey-based company continues to expand it sales and production.
Quarterly revenue rose to $339,000 from $182,487 in 2006's third quarter.
However, increased expenses associated with Russell's ongoing brewery expansion resulted in an increase to $170,068 from $142,870 in its quarter-to-quarter loss.
In February, Russell ordered new equipment to double its brewing capacity and begin bottling and canning its products in April.
Sales are expected to increase following a distribution agreement signed in April with Sammy J. Peppers restaurants and a three-year partnership agreement inked in May that made Russell Brewing the official beer of the B.C. Lions and BC Place.
Russell's share price range during the past week: between $0.61 and $0.67; 52-week high: $0.75; 52-week low: $0.45.