PEILCC Annual Report 2024

OPERATIONAL OVERVIEW The Prince Edward Island Liquor Control Commission’s Strategic Plan continued to guide activities through fiscal 2023-2024. Progress on strategic objectives is supported by annual business plans that set priorities for actions to meet objectives and timelines for their completion. The following is an overview of the performance in each of the four strategic objectives:

STRATEGIC TARGET • BUSINESS RESULTS

STRATEGIC TARGET To maximize net income within the policy guidelines established by the provincial government.

CORPORATE OBJECTIVES 1. Optimize return to government. 2. Grow revenue through effective planning and execution. 3. Continuously improve operational effectiveness and efficiency.

PERFORMANCE MEASURES

Actual 2022-2023

Target 2023-2024

Actual 2023-2024

% of Target 2023-2024

Target 2024-2025

Gross Receipts

$141,049,038

$137,000,000 $140,325,106

102.43%

$142,323,000

Gross Profit

$40,492,358

$40,270,000

$39,766,128

98.75%

$40,292,300

Operating Expenses

$18,705,635

$21,246,800

$19,073,915

89.77%

$21,517,800

Net Income

$25,171,307

$22,111,900

$24,196,320

109.43%

$21,924,500

Return To Government*

$49,884,597

$46,151,900

$48,780,067

105.69%

$46,873,500

Revenue Per Litre

$9.62

$9.98

$9.99

100.10%

$10.41

Spirits

$41.95

$43.07

$43.00

99.84%

$44.10

Beer (including draught)

$5.59

$5.60

$5.81

103.75%

$6.14

Wine

$17.91

$18.46

$18.82

101.95%

$19.69

Wine Coolers

$10.52

$10.50

$11.17

106.38%

$11.20

Spirit Coolers

$7.16

$7.34

$7.40

100.82%

$7.37

Operating Expenses as a % of Gross Receipts

13.26%

15.5%

13.59%

87.65%

15.12%

Shrinkage as a % of Gross Receipts

0.01%

0.01%

0.00%

100.00%

0.01%

Inventory Turnover**

Warehouse

64

75.0

62.7

83.60%

70.0

Stores

32.3

30.0

28.2

94.00%

30.0

* Inclusive of Net Income and health tax transfers to government ** Measured in days

12

PEILCC 2023-2024 Annual Report