Sales for super-premium beers helped Vancouver’s Russell Breweries Inc. (TSX-V:RB) increase sales 4% to $1.59 million in the quarter ending September 30, the company announced January 5. However, losses widened 77% to $83,128 compared with the same quarter in 2010.
“You’ll see an improvement going forward,” Russell Breweries CEO Brian Harris told Business in Vancouver after the earnings were released.
“We’re looking for the business to be up by 15%, and our bottom line will improve substantially.”
Harris added that Russell has started to produce a super-premium series of products dubbed “Brewmaster” that come either in 650 ml bottles or in draft form at high-end pubs.
Some of those releases have been:
- Wee Angry Scotch;
- Blood Alley Bitter; and
- Big Smoke.
Unlike Granville Island Brewing, which recently produced a chocolate stout beer in partnership with Rogers’ Chocolates, Russell Brewing’s high-end series of beer has thus far only been in traditional beer styles.
Sales for Russell’s super-premium beers increased more than $137,000,during the quarter, whereas sales for what the company calls “mature mainstream brands” fell $37,592.
Glen Korstrom
@GlenKorstrom