Emperador posts P5.3-B earnings

BRANDY producer Emperador Inc. reported an increase in ITS NET INCOME IN THE fiRST NINE months of 2019 on the back of robust revenue growth.

In a disclosure on Thursday, the maker of Emperador Brandy, Fundador Spanish Brandy de Jerez and single malt scotch whisky The Dalmore said its P5.3- billion net profit in the fiRST THREE QUARTERS WAS 3 PERCENT higher than P5.13 billion in the same period last year.

Revenues climbed by 11 percent to P33.8 billion in the ninemonth period, it added.

“Long- term growth in international operations should help MAINTAIN AND DIVERSIFY PROfiTABILity,” Emperador President Winston Co said in the disclosure.

According to him, The Dalmore is leading its premium Scotch whiskey business, followed by Fettercairn, Tamnavulin,

Jura and Shackleton.

“We have a compelling brandy portfolio [ made up] of the world’s leading brandy by volume, Emperador, Spanish brandies Fundador and Tres Cepas, and Mexican brandy Presidente,” Co said.

Emperador is set to repurchase shares of up to P3 billion until May 16, 2020. It has bought back 392.65 million shares worth P2.83 billion since starting its buyback program two years ago.

Emperador, whose products are being sold in over 100 countries, has expanded its presence in the beverage industry through ACQUISITIONS AND INTERNATIONAL partnerships. Among these are the United Kingdom-based Whyte and Mackay Group and Spain-based Bodegas Fundador SLU.

EMPERADOR SHARES WERE flAT AT P7 each on Thursday.