San Miguel“s subsidiary, La Tondena Distillers Inc. said its 2000 net profit surged 34% to1.35 billion pesos from 1.01 billion pesos the year before, on strong sales from its liquor business and the …
San Miguel“s subsidiary, La Tondena Distillers Inc. said its 2000 net profit surged 34% to1.35 billion pesos from 1.01 billion pesos the year before, on strong sales from its liquor business and the impact of recent acquisitions. In a statement, La Tondena said total sales climbed 34% to 14.2 billion pesos from 10.6 billion pesos in 1999 on a double-digit increase in its liquor business revenue. Its liquor business contributed 73% of total revenue and 77% of gross margin. The company said its recent acquisitions for its bottled water and juice businesses also contributed significantly to sales, with revenue from bottled water rising 47% and juice sales jumping 318%.