Tanduay Distillers Inc., the liquor maker of tycoon Lucio Tan, said its income last year reached P1.42 billion, 18 percent higher than the previous year’s P1.24 billion.“We can say that we have overcome the challenges of the past years and are now focused on growing the business further here in the Philippines and other countries,” company president and COO Lucio Tan III said.
The company said it continued its dominance in the Visayas and Mindanao, where every three out of four liquor drinker chose Tanduay products. The company also grew its share in the overall domestic market. Ethanol volumes were flat, but had higher selling prices last year due to the increased costs of molasses and sugar.
The brand has entered the markets of 16 states in the United States, with plans to enter three more this year.
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