RECORD LIQUOR SALES IN NEW HAMPSHIRE
Put this at the top of the “things that make you go hmmm” list. The New Hampshire Liquor Commission recently reported unaudited income for fiscal year 2O1O ending June 3O. Net sales for the year topped the half billion dollar mark at $511.4 million, an increase of 4.8 percent over the previous fiscal year. Spirit sales increased 5 percent and wine sales increased 4.5 percent over last year. These results include a 6 percent increase in retail store sales, a 2.6 percent increase in grocery store sales and a 1 percent increase in restaurant sales over the previous year. Net profits from liquor operations grew to a record $12O million, an increase of more than 1O percent over the previous fiscal year, exceeding all national growth trends in the industry. This level of performance translates into over $1 billion in net profits over the next eight years for New Hampshire taxpayers.
New Hampshire Liquor Commissioner Joseph W. Mollica stated, “Surpassing a half billion dollars in net sales is a major milestone for the Liquor Commission and one that can be credited to maintaining focus on increased profitability and marketing efforts, as well as collaborating with local, regional and national business partners.” How about giving a nod to the government of Massachusetts for implementing the 6.25% sales tax which is undoubtedly driving business across the border?