The Virginia Alcoholic Beverage Control Authority released its unaudited financial results for fiscal year 2024 after the ABC Board of Directors adopted a budget for FY 2025.
FY 2024 results
FY 2024 results show gross revenue of $1.5 billion and $243.4 million in profits, which is $4.0 million greater than the amount set in the commonwealth’s revised biennial budget. ABC revenues include the sale of distilled spirits, Virginia wines and mixers and the collection of license fees and other miscellaneous revenues.
Total sales grew $28.6 million or 2 percent to a record high of $1.47 billion, although they fell short of the original budget by $44.9 million. This is consistent with national trends of declining sprit sales. Sales to retail customers grew to $1.22 billion, while sales to licensees grew to $254.6 million.
Friday was the top day for sales, at $333.5 million, with Saturday at $310 million in second. Sunday sales grew to $122 million but remained the slowest sales day.
Including ...