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La Tondena third-quarter increase

La Tondena, subsidiary of Philippine food and beverage giant San Miguel Corp, has registered consolidated net sales for the third quarter of PHP 4 billion, from PHP 3.3 billion during the same period …

La Tondena, subsidiary of Philippine food and beverage giant San Miguel Corp, has registered consolidated net sales for the third quarter of PHP 4 billion, from PHP 3.3 billion during the same period in 2000. Operating income improved 9% to PHP 713 million from PHP 652 million previously. The company“s liquor business experienced a weak first semester, but mounted a strong recovery during the last quarter. La Tondena“s bottled water and juice businesses continued to register strong revenue growth. Total revenues for the quarter increased by 17%, translating to an 84% growth in year-to-date results. La Tondena president Arnaldo Africa said in a statement that the company expected to complete its non-liquor business spin-off by November. This transaction, he explained, is expected to result in significant benefits for La Tondena, especially as it seeks to pursue new avenues of growth for its liquor business.

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