05:44 PM EDT, 08/21/2024 (MT Newswires) -- Corby Spirit and Wine (CSW-B.TO) after trade Wednesday said its fiscal fourth-quarter profit rose 18% as revenue rose by half.

The company said its adjusted profit rose to $5.4 million. or $0.17 per share, in the quarter ended June 30, up from $4.9 million, or $0.06, in the year-prior quarter.

Revenue rose 50% to $66.5 million.

"For a second year in a row, our total spirits and RTD portfolio outperformed the market in value growth, highlighting the performance of our diverse portfolio of brands across categories and price points, the effectiveness of our portfolio prioritization strategy, and Corby's excellence in sales execution. This translated into robust financial results throughout the year, including significant growth in revenue and profitability as well as strong cash flow generation," chief executive Nicolas Krantz said.

The company also declared a $0.22 dividend for the quarter, payable Sept.27 to shareholders of record on Sept.11.

Corby's Class B shares closed down $0.15 to $12.75 on the Toronto Stock Exchange.