Ginebra San Miguel, Inc.
#31
5-31

Ginebra to double income this year as gin recovers

GINEBRA San Miguel Inc., the liquor unit of diversified conglomerate San Miguel Corp., said it will double its income this year as volumes of its gin sales start to recover.

Ramon S. Ang, the company’s president, said the company may reach a net income of about P1.2 billion for the year or double its P602.24-million earnings last year.

Sales of its flagship eponymous gin brand has recovered starting last year as consumers returned to drinking gin, said Emmanuel B. Macalalag, the company’s general manager.

“Gin is rebounding, even globally. We’re riding with the popularity,” Macalalag said. Ginebra’s volume fell over the past few years as drinkers turned to brandy, led by Andrew Tan’s Emperador Inc.

As a result, most of the company’s factories are being utilized at just more than 50 percent, depressing the company’s sales.

The company still has some manufacturing room as volumes grow, Macalalag said, but it also has plans for expansion of its plants over the next year. Macalalag said volumes, at some point, reached 40 million cases. Last year it sold 27.7 million cases, already 10 percent higher than the previous year.

Officials said gin will grow in its traditional market in Northern Luzon and Vino Kulafu in Southern Luzon.  Ginebra will form part of the much larger San Miguel Food and Beverage Inc., which Ang said may do its listing at the Philippine Stock Exchange by the end of the year.

Aside from Ginebra, the food and beverage group will consist of food group San Miguel Pure Foods Inc. and beer brewer San Miguel Brewery Inc.

“When your stock is good, you should not worry about market conditions. San Miguel Food and Beverage is a very good company,” Ang said.


source: https://businessmirror.com.ph/ginebra-to...-recovers/


Reply
#32
Lilipad eto bukas, panalo!
Reply


Forum Jump:


Users browsing this thread: 1 Guest(s)