Imported liquor sales lift The Keepers bottom line in 1H

MANILA, Philippines — Thirsty Filipinos lifted the bottom line of the country’s largest imported liquor distributor, as sales soared in the first six months.

In a disclosure sent to the Philippine Stock Exchange on Monday, The Keepers Holdings Inc’s net income surged 18% to P1.16 billion in the first half on the back of an uptrend in sales of imported brandy, wines, and specialty beverages.

Global brands imported by the Co-led firm included Johnnie Walker, Chivas Regal, Glenfiddich, Suntory, Jinro, Jose Cuervo, Jim Beam, Penfolds, and Red Bull among others.

Consolidated revenues grew 19% to P6.5 billion in the first six months owing to a growth in the volume of cases sold by the distributor. Imported brandy Alfonso supported the surge. 

Operating expenses rose 27% to P457.17 million in the first half, as the Co-led firm cited higher distribution costs, advertising, taxes, and transport costs. 

Shares in the firm ended trading 5.49% up at P1.73 on Tuesday.