La Tondeña Hits First Quarter Volume Target

April 30, 1998 PSE CIRCULAR FOR BROKERS NO. 873-98 Press Release La Tondea Hits First Quarter Volume Target La Tondea Distillers, Inc. (LTDI) reported that it achieved its volume target for hard liquor and achieved substantial growth in its bottled water and juice businesses for the first quarter of the year realizing its targeted net income of P58.5 million. Consolidated net sales amounted to P2.30 billion, a 2% increase over last year's record of P2.25 billion. Operating income, however, was 9% lower from P478 million to P437 due to higher manufacturing costs entailed by additional capacities as well as advertising costs that were moderated but still above year-ago levels. Cost of debt doubled to P349 million from P161 million a year ago as a result of greater funds exposure and higher interest rates. LLpr The company expects to further accelerate long-term margin prospects with the full operations of its expanded alcohol distillery in Negros Occidental and the startup of its juice production lines in Sta. Barbara, Pangasinan both in June.