Emperador income up 11% to P1.66 B

Liquor firms Emperador Inc. has taken off to a good start, posting a net income of P1.66 billion in the first quarter, up 11 percent year-on-year behind strong international operations.

In a disclosure to the Philippine Stock Exchange, Emperador said revenues in the first quarter rose 8.5 percent to P9.7 billion, with margins relatively stable.

“We are happy that Emperador is off to a good start with good growth coming from international operations — Scotch whisky and Spanish brandy — showing growth momentum moving forward,“company president Winston Co said.

Co said the single malt whisky business, in particular, continues to enjoy greater demand across all regions globally, while the brandy business continues to geographically expand its reach on the back of greater distribution, visibility and availability.

“In the Philippines, we have strong initiatives to rekindle the domestic brandy business. We envision robust and stable international and domestic businesses in the long run,” he added.

Emperador, the world’s largest brandy company, owns Spanish brandies led by the iconic Fundador as well as Scotch whisky brands led by The Dalmore and Jura single malts.

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

Meanwhile, the company reported that about 125 million shares have been bought with its ongoing share repurchase program of up to P5 billion over a 24-month period that began in May 2017.

The buyback of shares is in line with management’s belief that the company’s shares are undervalued and that this exercise will enhance shareholder value in the long run.

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