Emperador profits up on higher overseas sales

Emp erador Inc., the listed liquor firm of businessman Andrew Tan, said its income in January to September rose 11 percent to P5.9 billion from last year’s P5.27 billion, mainly on brisk overseas sales.

In the third quarter alone, it said its income rose 25 percent to P2.5 billion from last year's P2.02 billion, still due to the high demand of its products overseas.

The company did not provide revenue figures and its performance in the domestic market.

“The success of our international expansion boosted company earnings, bringing stability and growth at a time when the Philippines wrestles with the impact of the coronavirus. Emperador’s global business saw double- digit growth as it adapted well to new consumption trends,” Emperador President Winston Co said in a statement.

Its brands, such as Fundador and Tres Cepas, have been growing consistently mainly in the United States, Canada, Italy, Spain, United Kingdom and China.

In Spain, brands owned and produced under Grupo Emperador España SA continue to dominate the brandy market with a 40-percent market share.

Around the world, Fundador, the Spanish brandy that it acquired 5 years ago, has been growing even in North America. In the United States alone, Fundador achieved 23-percent growth in January to September. In Canada, sales tripled as Fundador Light has been made available in Alberta, Canada, it said.

The company said sales of Fundador has been increasing in the United Kingdom and Italy. Mexico’s brandy performance, meanwhile, rose by 8 percent during the period.

“We are glad that the company was able to deliver solid performance in the first nine months of 2020 on the strength of its international business that we have developed in the past five years. The highest international growth comes from China, which is expected to more than double from last year, which will be driven by the premium single malt brands and brandy. We are confident that this will pave the way for further growth in the future for Emperador,” Emperador International Chief Executive Officer Glenn Manlapaz said.