Emperador’s net income tumbles to B in 2017

Emperador Inc., the liquor unit of Alliance Global Group Inc., reported a drop in net income to R6.3 billion last year from the R7.7 billion earned in 2016 due to higher cost of goods sold, brand investments, and unrealized foreign exchange loss.

In a disclosure to the Philippine Stock Exchange, the firm said it recorded revenues of R42.6 billion in 2017, 4 percent higher than year-ago revenues.

“We have invested considerable amount of resources to bring new exciting products to the Philippines and the rest of the world,” said Emperador Inc. President Winston Co.

He added that, “our premiumization efforts and our strategy to grow our business worldwide are underway. We are excited about the prospect of these initiatives.”

One of the 2018 initiatives in the Philippines is the launch of Shackleton Blended Malt Scotch Whisky. The Dalmore flagship store at Uptown Bonifacio is also expanding the footprint of luxury destination to accommodate whisky connoisseurs.

With a vision to build and enhance Fundador brand equity among its loyal consumers, the Fundador concept store has just been opened at the Venice Grand Canal Mall in McKinley Hill. Fundador Café offers brandy and brandy spiked adult beverages and desserts.

Meanwhile, Emperador’s international business led by Scotch whisky business is growing, especially in Asia, Middle East and North America.

“In the Philippines, despite the perennially intense competition and challenging environment in the liquor industry, we expect an evolution brought about by improving Philippine economy and growing income of the middle class. We are in a position to capitalize on this,” Co explained.