PHILIPPINES: Tanduay profits jump on price rises
Philippine drinks group Tanduay Holdings has seen its thirds quarter net profits jump 76% over the same period last year to PHP149.9m.
The company said the rise had been fuelled by an increase in sales and a price rises.
For the nine months to September, net profit was up 49% on year to PHP376.5m from PHP252.1m, as revenue rise 18% on year to PHP4.76 bln from PHP4.04 bln.
In a statement the company said: "The increase in net sales and net income was attributed to the 6% increase in sales volume for the (January-September) period to 11.1m cases from last year's 10.5m cases and from the increase in selling prices by an average of 5%."
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