Brick brewery CEO 'thrilled' with 2016 fiscal result

Waterloo-based Brick brewery posted net revenues of $37 million in fiscal 2015-2016, which has "thrilled" president and CEO George Croft.

In a release, Croft said "quite simply, we are thrilled with the results for F2016. We'vebeen able to grow revenues, expand margins, [and] keep cost under control," he said.

Brick is the largest Canadian-owned brewery in Ontario.

By brand

Its premiere beer brand, Waterloo, enjoyed a heady 31 per cent increase in sales in the year.

The Seagram branded products showed an18 per cent drop, "driven by LCBO delists and malt cooler categorydeclines at The Beer Store," the financial statement showed. "Seagram cider continues as a standout,growing over 40% in the year."

Brick is pinning some of its future on a new brewhouse in Kitchener, Ont.,which it describes as "the most efficient in North America from a utilityand material utilization perspective.