The Keepers Holdings Inc., the Lucio Co-led liquor distributor, posted a 7.2 percent increase in net income to P1.74 billion in the first half of 2026, as stronger sales of imported brandy and spirits helped offset a relatively modest rise in overall revenue.
The company, the Philippines’ largest importer and distributor of liquor, reported consolidated revenue of P9.2 billion, up 2 percent from P9 billion a year earlier.
The sharper increase in profit suggests improving sales mix and operating leverage as consumers trade up to premium brands and the on-premise channel continues to recover.
Keepers said growth was driven principally by Alfonso, its flagship imported brandy, which has surpassed pre-pandemic sales levels. The performance points to a liquor market that is not merely recovering in volume, but also shifting toward higher-value products.
The rebound in bars, restaurants, hotels, and other on-premise venues is providing another lift, although the relatively slower revenue growth indicates that broader consumer spending remains a factor to watch.
Keepers distributes a portfolio of international spirits, wines, and specialty beverages, including Johnnie Walker, Chivas Regal, Glenfiddich, Suntory, Jinro, Jose Cuervo, Jim Beam, Penfolds, and Red Bull.
Its first-half results underscore the resilience of the premium liquor segment, with brand strength and the reopening of social consumption channels helping sustain growth despite a more measured topline expansion.
