FREDERICTON – The province’s Crown liquor company reports a net income of $164 million for 2011-2012.

That’s a $4.7 million increase over the previous year.

NB Liquor president Daniel Allain credits stronger sales of wine and spirits and a $500,000 reduction in operating expenses.

He says it’s the largest net income in the corporation’s history.

Allain says the improved results come despite a drop of eight percent in the number of customers at corporate stores.