GRIMSBY, Ontario, Aug. 07, 2024 (GLOBE NEWSWIRE) -- Andrew Peller Limited (TSX:ADW) ("APL" or the "Company") announced today results for the three months ended June 30, 2024. All amounts are expressed in Canadian dollars unless otherwise stated. FIRST QUARTER 2025 HIGHLIGHTS Revenue was $99.5 million, compared with $100.5 million in the prior year; Gross margin of 38.4%, consistent with the prior year; EBITA increased to $12.9 million, from $12.7 million in Q1 2024; and Net loss of $0.4 million ($0.01 per Class A Share), compared to $0.9 million ($0.02 per Class A Share) in Q1 2024. "Our operating results were largely consistent year over year, as our significant work on cost savings initiatives and operational efficiencies has enabled us to generate solid EBITA performance through a period of softer market conditions across the industry," said Paul Dubkowski, Chief Executive Officer. "The breadth of our brand portfolio and sales channels allowed us to mitigate the impact of these conditions and continue to meet the evolving tastes and preferences of our consumers. Heading into our typically busier second and third quarters, including at our award-winning estates, we remain focused on growing sales in our key brands while also introducing new products both in our core wine segment and other growth categories, building on our company's history of innovation. These initiatives support our objective to deliver above-category sales performance, combined with further margin expansion and EBITA growth." Financial Highlights(Financial Statements and the Company's Management Discussion and Analysis for the period can be obtained on the Company's web site at ir.andrewpeller.com) For the three months ended June 30, (in $000, except per share amounts)   2024     2023   Revenue   $ 99,465     $ 100,481   Gross margin (1)   38,179     39,028   Gross margin (% of revenue)   38.4%     38.8%   Selling and administrative expenses   25,320     26,328   EBITA (1)   12,859     12,700