PEILCC - 2019 Annual Report

Operational Overview The Prince Edward Island Liquor Control Commission’s Strategic Plan continued to guide activities through fiscal 2018-2019. 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 Performance

Goal To maximize net income within the policy guidelines established by the provincial government. Objectives 1. Achieve or exceed planned monetary transfer to the Provincial Government.

2. Achieve or exceed net income targets. 3. Increase traffic through liquor stores.

Actual 2017-2018

Target 2018-2019

Actual 2018-2019

% of Target 2018-2019

Target 2019-2020

Gross Receipts $114,030,030 $115,000,000 $116,965,595

101.71% $118,700,000

Gross Profit

$34,583,582 $34,800,000 $35,231,910

101.24% $35,800,000

Operating Expenses

$16,001,267

$16,165,400

$16,045,318

99.26% $16,993,100

Net Income

$21,377,733

$21,189,600

$22,132,576

104.45% $21,685,000

Monetary Transfers*

$41,385,656

$41,189,600 $42,583,684

103.38% $42,385,000

* Inclusive of Net Income and health tax transfers to government

The PEI Liquor Control Commission delivered both an increased net profit and an increased transfer to the provincial government in fiscal 2018-2019.

Gross receipts were $116,965,595 for the fiscal year ended March 31, 2019, an increase of $2,935,565 over the previous year. This increase came as a result of new sales and marketing initiatives. Net transfers for the year totaled $42,583,684. This year’s performance resulted in a $1,198,028 increase in the PEILCC’s contribution to the province over the previous year.

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PEILCC 2018-2019 Annual Report