The Keepers eyes own retail outlets for spirits and wine

The Keepers Holdings distributes global brands Johnnie Walker, Chivas Regal, Suntory, Jose Cuervo and Red Bull, among others. Photo from (The Keepers Holdings website)

MANILA, Philippines — The Keepers Holdings Inc., the  liquor distribution arm of Cosco Capital Inc. will soon have its own chain of retail outlets. This allows for an aggressive expansion as brandy sales continue to climb.

Co family-led The Keepers Holdings Inc. said in a regulatory filing on Friday its board of directors had approved a proposal to form a subsidiary. That company would “establish a chain of retail outlets” specifically serving alcoholic beverages and related products.

The Keepers currently does not have brick-and-mortar stores. It only distributes alcoholic beverages like global brands Johnnie Walker, Chivas Regal, Suntory, Jose Cuervo and Red Bull, among others.

The firm did not disclose additional details, including a timetable. However, it expressed optimism due to higher gains from Alfonso, its imported brandy.

This resulted in The Keepers’ first-quarter profit hitting P690 million, up by 14 percent.

Revenues likewise expanded by a fifth to P4.06 billion. This is thanks to an 18-percent growth in volume of cases sold in the January to March period.

At the same time, parent firm Cosco benefited from recovering consumer demand during the period. This resulted in a 7.6-percent rise in earnings to P3.68 billion.

Parent firm’s revenues jumped 11.5%

In a separate disclosure, Cosco said its top line had also increased by 11.5 percent to P56.7 billion.

Puregold Price Club Inc. and S&R Membership Shopping Club were the main growth drivers. The segment contributed 72 percent to the group’s total bottom line.

The grocery retail segment grew earnings by 6.5 percent to P2.6 billion. This was due to strong revenue growth, which was up by a tenth to P52.4 billion.

READ: Cosco nets P3.68B on higher consumer demand

Meanwhile, earnings from the commercial real estate unit rose by 5.3 percent to P273 million during the period. However, rental revenues declined by 2 percent to P502 million.

Office Warehouse Inc. saw a 2.6-percent rise in its earnings to P30 million during the quarter.

The energy and minerals segment posted P146 million in revenues and P58 million in earnings. 

Cosco ventured into this category in the second quarter of last year after acquiring 60 percent of Catuiran Hydropower Corp. The transaction was tagged at P551.88 million.

It took over Matuno River Development Corp. in a P1.02-billion deal in September.

Cosco has yet to disclose its full quarterly report.