Emperador reports nearly 5% profit growth
EMPERADOR, Inc. posted a 4.7% increase in attributable net income to P3.14 billion in the second quarter from P3 billion a year earlier after booking higher brandy sales while whisky drove its international business.
“Our international business continued to perform well led by the single malt whisky portfolio, which continues to be amongst the fastest growing single malts in the world,” Emperador President and Chief Executive Officer Winston S. Co said in a press release on Wednesday.
The company’s topline in the second quarter rose to P15.72 billion, higher by 18.6% than the previous year’s P13.25 billion.
In the first half, Emperador reported a 3.03% increase in net income to P5.3 billion versus P5.08 billion last year.
Consolidated revenues during the semester reached P28 billion, up by 11% from last year, as the company booked a 9.5% growth in its brandy sales.
Likewise, Emperador’s international sales increased in the first half, recording a 13% growth year on year.
Growth continued to be strong in Asia, Europe, and North America, Mr. Co said, adding that overall, the company is looking forward to a “stronger” second-half performance.
Emperador is said to be exploring a joint venture in China to further strengthen its international business.
“Our focus on China is part of our internationalization strategy,” Mr. Co said.
Emperador owns Fundador Spanish Brandy de Jerez and Whyte and Mackay, among others. Its brandy and whisky products are available in more than 100 countries. It is a publicly listed company on both the Philippine Stock Exchange and the Singapore Exchange.
On Wednesday, shares in Emperador climbed by 0.42% or P0.08 to P19.06 apiece. — Justine Irish D. Tabile
