Ginebra shares gain 4% as profits surge



Ginebra San Miguel Inc.’s over 180-year-old gin is still the company’s flagship offering.

Listed company Ginebra San Miguel Inc. (GSMI) ranked among the top winners on Friday and posted a nearly 4% week-over-week gain.

Shares of the Ang-run distillery jumped 6.05 percent.

Meanwhile, the industrial sector, of which GSMI is a part, posted a 0.53% drop on Friday amid the 0.32% rise in the Philippine Stock Exchange index (PSEi).

In a regulatory filing filed with the stock exchange last month, GSMI reported higher net profit of 3.17 billion pesos in the first nine months of the year, up 43% from 2.21 billion pesos recorded during the same period last year.

The company’s consolidated revenue for the period also rose 21 percent to 30.72 billion pesos, from 25.34 billion pesos in January through September last year.

GSMI attributed the nine-month revenue growth to the higher volume it posted during the period, which was led by its flagship brand, Ginebra San Miguel.

The company also owns the brands GSM Blue, Primera Light Brandy, Antonov Vodka, Vino Kulafu, Don Enrique, Anejo Gold Rum and San Miguel Ethyl Alcohol.

GSMI is a subsidiary of the diversified conglomerate San Miguel Corp., which saw nine-month profits soar to 34.2 billion pesos from 10.7 billion pesos last year.


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