PEILCC 2023 Annual Report

OPERATIONAL OVERVIEW The Prince Edward Island Liquor Control Commission’s Strategic Plan continued to guide activities through fiscal 2022-2023. 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 STRATETIC GOAL 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 2021-2022

Target 2022-2023

Actual 2022-2023

% of Target 2022-2023

Target 2023-2024

Gross Receipts

$131,560,947

$131,800,000

$141,049,038

107%

$137,000,000

Gross Profit

$39,004,601

$39,450,000

$40,492,358

102.6%

$40,270,000

Operating Expenses

$17,334,801

$20,084,500

$18,705,635

93.1%

$21,246,800

Net Income

$24,913,541

$22,157,100

$25,171,307

113.6%

$22,111,900

Return To Government*

$47,968,354

$45,327,100

$49,884,597

110.1%

$46,151,900

Revenue Per Litre

$9.34

$9.53

$9.62

100.9%

$9.98

Spirits

$40.86

$40.86

$41.95

102.7%

$43.07

Beer (including draught)

$5.47

$5.50

$5.59

101.6%

$5.60

Wine

$17.38

$17.38

$17.91

103.0%

$18.46

Wine Coolers

$17.62

$17.62

$10.52

59.7%

$10.50

Spirit Coolers

$6.98

$6.98

$7.16

102.6%

$7.34

Operating Expenses as a % of Gross Receipts

13.18%

15.24%

13.26%

87.1%

15.5%

Shrinkage as a % of Gross Receipts

0.03%

0.01%

0.01%

0.00%

0.01%

Inventory Turnover**

Warehouse

54.5

75.0

64

85.3%

75.0

Stores

30.1

30.0

32.3

107.3%

30.0

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

12

PEILCC 2022-2023 Annual Report