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RUM Reports Q2 2022 Consolidated Financial Results

·2 min read
Rocky Mountain Liquor Inc.

EDMONTON, AB / ACCESSWIRE / August 26, 2022 / Rocky Mountain Liquor Inc. (TSXV:RUM) (the "Company" or "Rocky Mountain"), listed on the TSX Venture Exchange (the "Exchange"), today reported its financial results for the three month and six month periods ending June 30, 2022.

KEY OPERATING AND FINANCIAL METRICS

The following table summarizes key operating and financial metrics of the Company's financial performance for the three and six month periods ending June 30 2022 and 2021.

3 months ended

6 months ended


Jun 2022

Jun 2021

Jun 2022

Jun 2021

Sales

$

11,053,602

$

12,476,170

$

19,696,952

$

21,972,994

Gross Margin

22.7%

22.7%

22.6%

22.5%

EBITDAR (1)

$

813,061

$

1,105,648

$

1,105,705

$

1,580,897

Net Income

$

230,105

$

547,443

$

18,516

$

460,334

Upon the onset of the COVID-19 pandemic in March 2020, Alberta liquor stores experienced unprecedented sales levels. Sales for the three month period and six month period ended 2022 are lower 2021 due to a return to on-premises consumption in a post COVID-19 environment. The Company has previously advised stakeholders to expect reductions in sales in 2022 versus 2021 as restrictions to on-premise liquor consumption sites have been lifted.

For the three month period ended June 30, 2022 margins are consistent with the same quarter ended June 30, 2021 at 22.7%. Margins have remained reasonably consistent for the six month period ended June 30, 2022 at 22.6% and 22.5% ended June 30, 2021. The Company refines its marketing, pricing and promotional strategies to maximize gross margins and continually uses competitive pricing strategies to optimize market share.

Management's focus remains on the improvement of the in-store experience for our consumers.

Detailed information in the form of the Company's interim consolidated financial statements and Management Discussion and Analysis are available under the Company's profile on SEDAR at www.sedar.com and also on the Company's website at www.ruminvestor.com. After accessing the website, please choose the "Investor Relations" tab to view Quarterly Reports.

About Rocky Mountain
Rocky Mountain owns 100% of Andersons Liquor Inc. ("Andersons"), headquartered in Edmonton, Alberta, which now owns and operates 26 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).

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. Forward-looking statements and information are often, but not always, identified by the use of words such as "appear", "seek", "anticipate", "plan", "continue", "estimate", "approximate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe", "would" and similar expressions.

Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as investment decisions. In particular, results achieved in 2022 and previous periods 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, the impact from COVID-19 pandemic on our operations and third party suppliers. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks, 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. Accordingly, readers should not place undue reliance on the forward-looking statements, timelines and information contained in this news release.

The forward-looking statements and information contained in this news release are made as of the date hereof, and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws or the TSX-V. This cautionary statement expressly qualifies the forward-looking statements or information contained in this news release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

For further information:

Scott Morrow
Chief Executive Officer
(780) 483-8183

Sarah Stelmack
Chief Financial Officer
(780) 483-8177

SOURCE: Rocky Mountain Liquor Inc.



View source version on accesswire.com:
https://www.accesswire.com/713709/RUM-Reports-Q2-2022-Consolidated-Financial-Results