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Genny sales improve in third quarter.

Genny sales improve in third quarter

Genesee Corp. recently announced increased consolidated sales and earnings for the third quarter and nine months ended January 31.

Third quarter gross sales improved 4.7 percent to $36.3 million compared to the same period in 1988. Nine month gross sales were $119.8 million, a slight increase over the prior year. The corporation also reported net earnings increased to $739,000 for the third quarter compared to a net loss of $785,000 last year.

Genesee Corp. officials also noted increased sales revenues from the brewing and food subsidiaries contributed to the quarterly improvement. Officials also attributed improved earnings to a more favorable package mix, lower ingredient costs and continued effort to contain costs at the Genesee Brewing Co.

"We are seeing the results of our efforts reverse sales trends and reduce costs and we are working to continue these positive trends in the months ahead," said John Wehle, president, Genesee Corp.
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Title Annotation:Genesee Brewing Company Inc.
Publication:Modern Brewery Age
Date:Mar 19, 1990
Words:160
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