La Tondena: net profit drops

Manila-based, Philippines, La Tondena Distillers Inc. said net profit for the nine months to September fell 12% from the year-earlier period to PHP 949 million, squeezed by increased financing costs f…

Manila-based, Philippines, La Tondena Distillers Inc. said net profit for the nine months to September fell 12% from the year-earlier period to PHP 949 million, squeezed by increased financing costs for acquiring Sugarland Beverage Corp. Revenue rose 15% to PHP 11.8 billion from PHP 10.3 billion. The company credited strong sales of bottled and juice products and a recovery in liquor volumes during the third quarter.