Harrisburg, Pa. – Despite the economic impacts of COVID-19 shut downs, which closed many state liquor stores, the Pennsylvania Liquor Control Board (LCB) still posted record net incomes this year.
Sales in the most recently completed fiscal year totaled $2.56 billion (including liquor and sales taxes) which was $110.9 million less than the prior year. Net income for the year, however, totaled a record $208.7 million.
This year’s net income was $17.7 million or 9.2% higher than the prior fiscal year and exceeded the PLCB’s $185.1 million contribution to the General Fund by $23.6 million.
The increase in net income was due primarily to decreased operating expenses related to other post-employment benefit (OPEB) costs and pension expenses.
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