2014-04-23 22:47:46 -
Edmonton, Alberta (FSCwire) - Rocky Mountain Liquor Inc. (TSX-V: RUM) (the “Company” or “Rocky Mountain, listed on the TSX Venture Exchange (the “Exchange, today reported its financial results for the year ending December 31, 2013.
RUM reported positive results for the fourth quarter and year ending December 31, 2013.
Key Operational and Financial Highlights, year over year 3 month comparison:
Sales increased by 6.5% to $14.8M (2012 - $13.9M)
Gross margin has increased to 23.1% (2012 – 22.7%)
EBITDA increased by 186% to $558,532 (2012 - $195,042)
Operating margin increased by 183% to $578,412 (2012 - $204,525)
Net loss improved to $43,542 (2012 - loss $410,884)
and Financial Highlights, year over year 12 month comparison:
Sales increased by 2.3% to $55.9M (2012 - $54.6M)
Gross margin has increased to 23.5% (2012 – 22.8%)
EBITDA reduced slightly to $2.54M (2012 – $2.66M)
Operating margin reduced slightly to $2.6M (2012 – $2.7M)
Net income increased by 8.5% to $208,432 (2012 – $192,034)
Key Highlights for the 12-month period ending December 31, 2013:
The Company purchased three stores and constructed two stores during 2013 resulting in a total of 47 liquor stores at year end.
In 2013 the Company was ranked 222 in the 2nd annual Alberta Venture 250, recognizing Alberta’s highest grossing companies based on 2012 results. The ranking published in the September issue of Alberta Venture and online at v250.albertaventure.com was evaluated on the 2012 revenue of Andersons Liquor Inc., a wholly owned subsidiary of RUM. This is the second consecutive year the Company has been ranked in the Alberta Venture 250.
Also in 2013, the Company was ranked in the 25th annual PROFIT 500 ranking of Canada’s Fastest-Growing Companies by PROFIT Magazine in September based on 2012 results. The Company ranked 270th overall. This is the third consecutive year the Company has been ranked in the Profit 500. The award was evaluated on the five-year growth of Andersons Liquor Inc., the wholly owned subsidiary of the Company. The rankings were published in the Summer issue of PROFIT and online at PROFITguide.com. The PROFIT 500 is Canada’s largest annual celebration of entrepreneurial achievement.
“We are proud to receive the awards from Alberta Venture and Profit magazines again this year said Peter Byrne, CEO of Rocky Mountain. “The Company has achieved growth in the year consistent with our business strategy and we are pleased with the results for 2013
The Company’s goals continue to be growth of new developments and acquisition of existing privatized liquor stores with a minimum of dilution to shareholders.
Events Subsequent to December 31, 2013:
The Company completed construction and opened a new store in West Lethbridge on February 7, 2014 resulting in current ownership of 47 stores.
The Company’s audited consolidated financial statements and Management Discussion and Analysis for the year ending December 31, 2013 are available under the Company’s profile on SEDAR at www.sedar.com and also on the Company’s website at www.ruminvestor.com .
About Rocky Mountain
Rocky Mountain owns 100% of Andersons Liquor Inc. Andersons, headquartered in Edmonton Alberta, which now own and operate 47 private liquor stores in that province, up from 18 stores since the Common Shares began trading in December 2008. It is listed on the TSX Venture Exchange (TSX-V:RUM).
This news release may contain "forward-looking statements" within the meaning of applicable securities laws relating to the future growth of the Company, and the ability to execute its business strategy. Readers are cautioned not to place undue reliance on forward-looking statements, and in particular results achieved in 2013 and previous periods. Past results might not be a certain indication of future performance, which is subject to other risks, including but not limited to changes in operational policies, changes in management, changes in strategic focus, market conditions and customer preferences. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risks that these events may not materialize as well as those additional factors discussed in the section entitled "Risk Factors" in RUM's Management Discussion and Analysis, which can be obtained at www.sedar.com. If they do materialize, there remains a risk of non-execution for any reason.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information:
Peter J. Byrne
Chief Executive Officer
To view this press release as a PDF file, click onto the following link:
Source: Rocky Mountain Liquor Inc. (TSX Venture:RUM) www.ruminvestor.com/
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