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Manila Bulletin devider Business devider Keepers earns record profit in 2021

Keepers earns record profit in 2021

Published Apr 20, 2022 04:33 pm

The Keepers Holdings Inc. (Keepers), the largest imported liquor distributor in the Philippines, reported a 34.3 percent hike in consolidated net income to a record P1.58 billion last year from the P1.18 billion earned in 2020.

In a disclosure to the Philippine Stock Exchange, the firm said the growth is due to its strong sales performance augmented by management’s strategic cost control of its distribution, marketing and promotion expenses.

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Keepers also reported an all-time high consolidated revenue of P11.03 billion, a 35.1 percent growth versus previous year on the back of a 31.9 percent growth in volume of cases sold totaling more than 4.46 million cases sold in 2021.

This was driven principally by the continued robust performance of Alfonso which has already surpassed its pre-pandemic levels despite some challenges brought by the continuing impact of the Covid-19 lockdowns experienced during the year.

As of end 2021, Keepers also has a strong balance sheet with over P7.7 billion in cash to be utilized for the expansion of its diversified and curated liquor portfolio as well as its distribution capabilities across the Philippine archipelago in line with its medium-term strategic expansion plans and programs.

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