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Russell Breweries, a Canada-based producer of premium craft beer, has reported net revenue of $1.9m for the first quarter (Q1) of fiscal year 2014, up 7%, compared to $1.8m for the corresponding period in 2013.

Gross revenue increased by $152,205 or 7% from $2.32m in Q1 2013 to $2.5m in Q1 2014.

During the quarter ended 30 September 2013, net income was $93,734, as against net loss of $63,408 in the year-ago period.

This increase was primarily due to increase in gross margin of $236,585, which was again offset by an increase in selling, general and administrative expenses of $140,237 and decrease in other expenses of $50,922.

Gross margin increased by 26% or $236,585 from $921,944 in Q1 2013 to $1.15m in the latest quarter.

Russell Breweries CEO Benjamin Li Yu said they are pleased with the continuing improvement of the company over Q1 of 2014 fiscal year, primarily from improved gross margins and continuous growth in market.

With breweries located in British Columbia and Manitoba, Russell Breweries produces premium beers under Session Series, Brewmaster Series, Brewmaster Limited Editions, Specialty Series, Seasonal Beers and Collaboration Beers.

Some of its beers include Cream Ale, Pale Ale, Angry Scotch, Blood Alley, Black Death, Summer Daze, Hop Therapy, Truth Serum, Lemon Ale, Nautical Disaster, Big Smoke Ale, Rick August Russian and others.

All the products are made using highest quality standards, brewed without any preservatives, ensuring consistent taste and flavour.

Image: Russell Breweries produces Cream Ale, Pale Ale, Angry Scotch, Blood Alley, Black Death and other beers. Photo courtesy of Idea go / FreeDigitalPhotos.net.