PEILCC Annual Report 2020

Operational Overview The Prince Edward Island Liquor Control Commission’s Strategic Plan continued to guide activities through fiscal 2019-2020. 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 five strategic objectives: Goal 1 Financial Results

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

Objectives

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

Actual 2018-2019

Target 2019-2020

Actual 2019-2020

% of Target 2019-2020

Target 2020-2021

Gross Receipts

$116,965,595

$118,700,000

$121,112,506

102.0%

$95,573,000

Gross Profit

$35,231,910

$35,800,000

$35,943,041

100.4%

$28,381,000

Operating Expenses

$16,045,319

$16,993,100

$16,476,245

97.0%

$18,118,300

Net Income

$22,132,575

$21,685,000

$22,468,919

103.6%

$12,328,300

Return To Government*

$42,583,683

$41,685,000

$43,715,692

104.9%

$29,000,300

Revenue Per Litre

9.02

9.07

9.09

100.2%

9.12

Spirits

38.73

38.92

38.82

99.7%

39.20

Beer

5.69

5.72

5.71

99.8%

5.78

Wine

16.93

17.01

17.09

100.5%

17.16

Wine Coolers

7.87

7.91

8.81

111.4%

7.98

Spirit Coolers

7.42

7.46

7.67

102.8%

7.53

Draught

2.24

2.25

2.04

90.7%

2.27

Operating Expenses as a % of Gross Receipts

13.72%

14.32%

13.60%

95.0%

18.96%

Shrinkage as a % of Gross Receipts

0.00%

0.01%

0.01%

100.00%

0.00%

Inventory Turnover**

Warehouse

73.6

73.6

62.0

84.24%

70.0

Stores

31.4

31.4

31.5

100.32%

30.0

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

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PEILCC 2019-2020 Annual Report