“This sustained growth resulted from the company’s strengthened financial position, improved sales and operation efficiencies, and successful consolidation and penetration efforts in the southern Philippines,” the company said. It reported that its operations in the southern Philippines had turned around this year with sales up by some 77% in the first six months.
PHILIPPINES: Net profit up 62% at La Tondena
Philippine spirits company, La Tondena, has reported a 62% rise in second-quarter net profit to PHP403m. The company attributed the increase to improved sales and a stronger financial position. Net profit for the first half of the year was up by 48% at PHP814m.