Big Rock Brewery's First-Quarter Loss Widens
Big Rock Brewery's (BR.TO) first-quarter loss widened even as revenue stayed constant.The company's loss rose to $1.8 million, or $0.07 per share, compared to a loss of $49,000, or nil, in the prior-year period.Revenue edged up to $10.11 million, from $10.06 million. Sales volumes fell by 15% year-over-year, due to lower co-packing sales volumes which were down 23%, the company said."Big Rock experienced seasonally slow activity this quarter, consistent with industry trends and with the cyclical nature of this industry," said chief executive David Kinder.The company, which is launching new products in the spring and summer, is already seeing early signs of stabilization in wholesale volumes, Kinder added.Big Rock shares were last seen unchanged at $0.65 on the Toronto Stock Exchange.
