Keepers earnings up 34% to P1.58 billion

MANILA, Philippines — Lucio Co-led The Keepers Holdings Inc. (Keepers), the listed imported liquor distribution company in the Philippines, reported a consolidated net income of P1.58 billion last year, up 34.4 percent from P1.18 billion in 2020.

In a disclosure yesterday, The Keepers said this was on the back of strong sales, augmented by management’s strategic cost control of its distribution, marketing and promotion expenses.

The Lucio Co-led company registered P11.03 billion in revenues, 35.1 percent higher than the previous year due to higher sales volume.

It sold more than 4.46 million cases last year, up by 31.9 percent.

The Keepers said the increase was driven largely by the continued robust performance of Alfonso, its leading imported brandy in the market, which has already surpassed its pre-pandemic levels despite some challenges brought about by the continuing impact of the COVID-19 lockdowns experienced during the year.

It ended 2021 with a strong balance sheet with over P7.7 billion in cash.

The company will continue to expand its diversified liquor portfolio as well as its distribution capabilities across the country in line with its medium-term strategic expansion plans and programs.

The Keepers owns Montosco Inc., Meritus Prime Distributions Inc. and Premier Wine and Spirits Inc., three operating companies engaged in the importation, distribution and marketing of imported alcoholic and non-alcoholic beverages.