Lucio Co-led The Keepers Holdings Inc., the country’s largest importer and distributor of alcoholic beverages, posted stronger earnings in the first quarter as resilient consumer demand and a rebound in spirits consumption lifted volumes, led by the imported brandy segment.
Net income rose 17.6 percent to P811 million in the January to March period, up from P690 million a year earlier, supported by sustained sales momentum and a better product mix.
Consolidated revenue increased 6.1 percent to P4.3 billion, driven by a 4 percent rise in total case volume sold during the quarter. Growth was anchored on Alfonso, the company’s flagship imported brandy, which has surpassed pre-pandemic sales levels amid stronger on-premise consumption and continued premiumization in the alcohol market.
Industry observers said the recovery in social and hospitality spending has been a key driver for imported spirits, as consumer behavior continues to normalize following pandemic disruptions and bars and restaurants see steadier foot traffic.
Keepers said the performance reflects both volume expansion and sustained brand strength across its portfolio, which continues to benefit from a gradual shift toward higher-quality imported alcoholic beverages among Filipino consumers.
The company distributes some of the world’s most recognized spirits and beverage brands in the Philippines, including Johnnie Walker, Chivas Regal, Glenfiddich, Suntory, Jinro, Jose Cuervo, Jim Beam, Penfolds and Red Bull, among others.
Keepers’ results underscore the resilience of imported liquor demand despite inflationary pressures, supported by social consumption, tourism recovery and premiumization trends.
With Alfonso maintaining category leadership and broader portfolio recovery underway, market watchers expect Keepers to sustain growth momentum, although they note that shifts in discretionary spending and regulatory developments remain key risks to demand in the coming quarters.
