Emperador profit rises 5% last year

LISTED Emperador Inc. saw its recurring net profit increase by 5 percent to P7 billion last year and its revenues rise by 10 percent to P51.6 billion from the 2018 figure.

“Last year’s stellar performance is a continued testament to our premiumization and globalization strategy for our renowned brandy and whisky products ranging from mainstream to luxury sold in over 100 countries,” Emperador President Winston Co was quoted as saying in the disclosure on Wednesday.

The brandy maker described 2019 as a “another excellent year” for its Scotch whisky segment as it grew its business around the world, with Asia still leading the growth, alongside Europe and North America.

Its brandy segment, meanwhile, received 27 awards last year, with Fundador at the forefront.

Fundador Brandy also further expanded its footprint across the globe last year, especially in the United Kingdom and Asia.

“Emperador Brandy remained at the helm of local liquor across the country particularly in key metro cities, while we strategically engaged in product innovations in response to the everchanging consumer taste and preference,” Co said.

The company also announced the extension of its share buyback program — which began in May 2017 — until May 16, 2021.

“To date, roughly 322 million shares have been bought back, amounting to around P2.2 billion,” the firm said.

Emperador owns Emperador Distillers Inc., Scotch whisky maker Whyte and Mackay Group and the Bodegas Fundador in Spain.

Emperador shares added 2 centavos or 0.26 percent to close at P7.70 apiece on Wednesday.

FAYE ALMAZAN