Keepers Holdings net income up 56.8% in 1H2021

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The Keepers Holdings, Inc., the listed wine and spirits distribution company of retailer Lucio Co, reported that its net profit rose 56.8% to P 650.7 million in the first half of 2021 from P 415.0 million recorded in the same period last year.

The company recorded a 38% year-over-year improvement in consolidated net sales, posting 4.30 billion pesos in the first six months of the year, an increase of 1.11 billion pesos.

Keepers Holdings’ brandy segment, led by flagship brand Alfonso, saw sales growth of 58.6% in the first half of 2021, compared to the same period a year earlier. The brandy segment now represents 78.1% of the group’s total sales in volume.

IWSR Drinks Market Analysis Limited, the global benchmark for alcoholic beverage data and intelligence, had identified leading Spanish imported brandies, such as Alfonso, as growth drivers in the imported spirits segment.

Based on its first performance this year, The Keepers Holdings is hopeful that Alfonso will be able to maintain its rapid growth – even surpassing the performance of its direct competitors in the broader spirits market in the Philippines – through the execution of tailored strategies and building on the Lucio Co Group’s in-depth understanding of the home consumer market.

The Keepers has three major players in the alcohol, wine and specialty beverage distribution segments imported from the Philippines, namely Montosco, Inc., Meritus Prime Distributions, Inc. and Premier Wine and Spirits, Inc.

According to IWSR, The Keepers Holdings controls 74.0% of imported spirits by volume and 66.9% by value of retail sales, resulting from pure third-party distribution agreements and associated companies with some of the top spirits brands. important and popular in the world, such as Alfonso, Johnnie Walker, Chivas, Jim Beam, Jameson, Jinro, Absolut Vodka, Tanqueray, Jose Cuervo and Baileys.

In July 2021, The Keepers Holdings filed a request for a follow-up or “reinvestment” offer with the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE). Based on a prospectus dated July 13, 2021, The Keepers Holdings plans to offer up to 3 billion common shares at an offer price of P2.00 to P2.50 per share. The Keepers Holdings hired China Bank Capital Corp., PNB Capital and Investment Corp. and SB Capital Investment Corp.


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