Quarterly revenue rises at both SAQ, Loto-Québec

Both Loto- Québec and the Société des alcools du Québec reported increases in second-quarter revenue on Friday.

The SAQ reported sales of $752.2 million during the 12-week period that ended on Sept. 9, 2017.

That’s an increase of 1.7 per cent, or $12.9 million from the $739.3 million in sales it reported during the equivalent period last year.

The SAQ credited the revenue growth to the favourable economic environment, combined with an increase in tourism in Quebec over the summer.

Revenue was also up 7.6 per cent from the $698.8 million the SAQ reported during the previous 12 week period, the crown corporation’s first quarter. However, profits were down. Net income was down 4.5 per cent, when compared with the second quarter of last year, dropping $12.5 million from $278.7 million to $266.2 million.

The SAQ said the decline in profits came as the result of price reductions on wine and coolers.

The average in-store purchase during the quarter was $47.40, down from $48.23 during the equivalent period last year.

Net margin was 35.4 per cent during the quarter, down from 37.7 per cent during the second quarter of the 2016-2017 fiscal year.

Loto-Québec also saw a boost that it credits to the growth in tourist traffic.

It saw revenue grow to $931.3 million during the 91-day period that ended on Sept. 25, 2017. That’s a one-per-cent increase from the $922.4 million in revenue it reported during the equivalent period in 2016.

While lottery revenue was down during the period, revenue from casinos and gaming establishments, which includes things like video lottery terminals and bingo halls, was up.

The increase in casino revenue was credited to a growing number of tourist visits, it said.

Urban casinos, located in Montreal and Gatineau, benefited from the celebrations of Montreal’s 375th anniversary and the 150th anniversary of Confederation, it said.

This is the 10th consecutive quarter that Loto-Québec has reported revenue increases.