EMPERADOR’S H1 PROFIT AT RECORD P 5.1B
Tycoon Andrew Tan-led liquor manufacturer Emperador Inc., one of the few companies that bucked the earnings downturn last year, sustained its robust profit growth momentum in the second quarter despite tighter lockdown restrictions in early April.
Emperador’s net profit in the second quarter surged by about 58 percent year-on-year to P3 billion.
Sequentially, its net profit rose by about 43.5 percent from the first quarter’s bottom line of P2.09 billion, despite the reimposition of tough lockdown protocols in Metro Manila and surrounding provinces from March 29 through April 11 this year.
This brought Emperador’s six-month attributable net profit to P5.1 billion, 53 percent better than last year. First semester revenue likewise rose by 18 percent year-on-year to P25.3 billion.
For the second quarter alone, revenue amounted to P13.2 billion, 21.3 percent better than the level seen in the same period last year.
“The gradual easing of quarantine restrictions in various
parts of the world has buoyed our first half business performance. On-sites have started to return. We see the brandy business led by Fundador growing by double-digit in the UK, US, Canada, Spain, Mexico, Canada and Asia, including the Philippines. The whisky business continues to pace strongly led by North America, Europe and Asia, led by China,” Emperador president Winston Co said in a disclosure to the Philippine Stock Exchange.
The net profit of P5.1 billion
booked in the first six months was a record semestral high for the company, Co said.
“Both brandy and whisky segments showed increased margins and robust profitability given the benefits from improving product mix and positive operating efficiency,” Co said.
“We hope global economies continue to rebound and return to some form of normalcy,” he added.
Unlike many companies that are expected to post extraordinarily high year-on-year growth in second quarter earnings because they are coming from a low base last year, 2020 had been a good year for Emperador due to robust overseas whisky sales.
Emperador also owns Whyte & Mackay, the world’s fifth largest Scotch whisky producer which was recently recognized as “distiller of the year” at the Icons of Whisky Scotland 2021.
Emperador’s brandy and whisky products are available in more than 100 countries.