05/30/2012 10:07 EDT | Updated 07/30/2012 05:12 EDT

NB Liquor reports $164 million net income thanks to stronger wine, spirit sales

FREDERICTON - New Brunswick's Crown liquor company is reporting a net income of $164 million for 2011-2012 — a $4.7 million increase over the previous year.

NB Liquor president Daniel Allain says the improved finances come as the result of increased sales of wine and spirits and a $500,000 reduction in operating expenses.

Allain says it is the largest net income in NB Liquor's history.

He says the improved financial results come despite an eight per cent drop in the number of customers to corporate stores.

There are 47 corporate liquor outlets and 73 private agency stores in the province.