Tanduay posts P227-M income in first semester

Tanduay Holdings Inc. (THI) posted a consolidated net income of P227 million for the first half of the year 2004, up by 36 percent from last year’s figure of P167 million.

THI, the holding company of Tanduay Distillers Inc., said the net income was made possible by an 18-percent increase in sales volume, from 6.4 million cases in 2003 to 7.6 million cases.

"A sustained advertising campaign, anchored on the company’s 150th year anniversary celebrations this year, resulted in double-digit increases in the company’s major products, particularly the Five Years and ESQ brands," Tanduay Holdings said in a statement.

While the company has produced world-class quality rhum products, Tanduay continues to sell them at affordable prices.

The company’s Barcelona Brandy also contributed to the upswing with an 80 percent turnaround in sales from that of last year.

"The strong performance of the agricultural sector and the May national elections contributed significantly to the rise in consumer demand," the firm stressed.

With the theme "Celebration of the Filipino Spirit," Tanduay marks its 150th anniversary with over a hundred awards in international liquor festivals.

THI, in partnership with GMA-7, will be coming out with corporate ads proclaiming unheralded Filipino achievers as a way of awakening the Filipino creative and competitive spirit.

Tanduay products have started to make their presence felt in Southeast Asia, particularly Malaysia, Thailand, Hong Kong, Singapore and Taiwan, and the Americas.

The company’s march towards attaining global quality began when businessman Lucio Tan acquired Tanduay Distillery in July 1988, which was considered the biggest corporate buyout at that time.

The firm’s bottling lines were modernized and computerized such that it is now able to produce a combined 50,000 cases a day from its three plants.

Tanduay has won a total of 111 awards in international liquor competitions that included the prestigious Monde Selection.

Tanduay’s most recent award was during the recently concluded 42nd Monde Selection in May 2004 wherein it won four medals, including a gold medal for Tanduay White.