Increases in selling prices bolstered the nine-month net income of Tanduay Distillers Inc. to a record P2.4 billion, up 59 percent from P1.51 billion in the year-earlier period. The price adjustment also lifted revenue by 2 percent to P25.09 billion despite weaker volumes in both liquor and bioethanol, allowing the company to notch its strongest nine-month and third-quarter performance to date.
The improved pricing strategy helped offset softer demand across key product lines. With volumes down, cost of sales also eased to P20.69 billion from P21.05 billion, giving Tanduay some breathing room on margins. As a result, gross profit margin climbed to 18 percent from 14 percent a year earlier—a sharp improvement driven by stronger liquor pricing and lower production costs.
Tanduay also kept a tight grip on operating expenses, which fell to P1.42 billion from P1.56 billion, reflecting lower spending on advertising, promotions and other discretionary items. This leaner cost structure further boosted the bottom line and strengthened the company’s financial footing heading into the final quarter of the year.
The brand’s dominance in the liquor market continued to deepen. Tanduay’s nationwide market share rose to 38.5 percent from 33.4 percent, cementing its position as one of the country’s leading liquor makers. It remained a powerhouse in the Visayas and Mindanao, where market shares climbed to 69.0 percent and 81.2 percent, respectively — levels that underscore the company’s strong distribution network and consumer loyalty in the regions.
Tanduay Distillers Inc. is the liquor arm of the LT Group, the flagship investment holding company of billionaire Lucio Tan.
