Keepers Holdings profit up 57% in H1

MANILA, Philippines — Lucio C ’s The Keepers Holdings Inc., the  largest distributor of imported spirits in the Philippines, reported a 56.8 percent growth in first half net income to P650.7 million.

According to the company, consumption of imported liquor in the Philippines has rebounded.

The Keepers president Jose Santamarina attributed the strong rebound to “the jump in sales on the back of the gradual reopening of the economy in the second quarter which allowed the company to intensify marketing and promotional activities.”

Santamarina said the company is optimistic about its growth prospects.

“While we remain cautious of pandemic-related developments, we are optimistic for the business prospects for the second semester as we are seeing a very encouraging trend with our current sales under the brandy segment already surpassing pre-pandemic levels,” Santamarina said.

The Keepers posted consolidated net sales of P4.3 billion, up 34.8 percent year-on-year.

In terms of segments, the flagship brand Alfonso, registered a 58.6 percent sales growth in the first half with the brandy segment now accounting for 78.1 percent of the group’s total sales by volume.

The Keepers owns three major players in the Philippine liquor, wine and specialty beverage distribution segments, namely, Montosco Inc., Meritus Prime Distributions Inc. and Premier Wines and Spirits Inc., which it acquired through the share swap transaction.