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Delivering Value to Ontarians - LCBO Highlights 2016-17 Fiscal Year Results


Full details available at:www.lcbo.com/year-in-review

TORONTO, Aug. 17, 2017 /CNW/ - The yearly dividend returned by the LCBO to the Province of Ontario goes toward improving our communities, including through investments in health care, education, and infrastructure. With financial revenues of $5.89 billion, marking net sales growth of 5.8 per cent, the LCBO transferred a dividend of $2.06 billion* to the Ontario government for the 2016-17 fiscal year ? an increase of $125 million from fiscal year 2015-16.

"We are proud that the significant dividend we transfer to the provincial government is invested in services that improve the lives of all Ontarians like hospitals and schools, the building of bridges and roads, and to connecting businesses and communities across the province," said LCBO President & CEO George Soleas. "LCBO's strong fiscal year results highlight our commitment to excellence in the customer experience, support of local producers, and our focus on social responsibility. Moving forward we will continue to drive progress in our strategy to succeed in a more competitive marketplace so that we continue to deliver value for the people of Ontario."

Additional information on the LCBO's fiscal 2016-17 year in review can be found at www.lcbo.com/year-in-review Highlights by category include:

Overall sales

Support of local producers

Social Responsibility
The LCBO is recognized by Ontarians for actions that support responsible retailing and for promoting a culture of moderation; product quality and safety; environmental sustainability and community involvement and fundraising.

*excludes HST and $246 million from the land sale of LCBO's Head Office.

Follow us on Twitter: @LCBONews

SOURCE LCBO



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