THE Keepers Holdings Inc. on Tuesday said net income in the first half grew 13.7 percent to P1.6 billion from P1.43 billion in the same period last year, led by strong imported brandy sales.
In a disclosure, the company said the earnings growth was “driven by the strong sales volume performance from the imported brandy segment.”
Revenues climbed 17 percent to P9.04 billion following a 22-percent growth in cases sold, led by its flagship imported brandy, Alfonso.
The company said sales momentum was also fueled in part by a trend toward premium brands and a rebound in on-premise sales.
To support expansion, The Keepers’ board has approved a proposal to establish a new subsidiary that will operate a dedicated retail chain for alcoholic beverages and related products.
Last month, it completed the acquisition of a 50-percent stake in Cervia Global Trading Inc., a domestic firm behind the premium liqueur brand Sula, for P40 million.
For more than two decades now, The Keepers has been the domestic distributor of top-tier global liquor brands, including Johnnie Walker, Chivas Regal, Glenfiddich, Suntory, Jinro, Jose Cuervo, Jim Beam, Penfolds, and Red Bull.
The company’s shares added 8 centavos, or 3.19 percent, to close at P2.59 apiece on Tuesday.
