Date: November 8, 2019
Publication: https://www.bworldonline.com/
Link: https://www.bworldonline.com/emperador-earnings-hit-p5-3-billion-in-9-months/

EMPERADOR, Inc. earnings reached P5.3 billion as of end-September, driven by an 11% rise in revenues.

In a statement yesterday, the listed alcoholic beverage company said its net income stood at P5.3 billion but did not provide comparative figures. A regulatory filing showed Emperador’s attributable net income stood at P5.13 billion for the first nine months of 2018.

Revenues in the nine months jumped 11% to P33.8 billion.

“Long-term growth in international operations should help maintain and diversify profitability,” Emperador President and Chief Executive Officer Winston S. Co was quoted in the statement as saying.

“Our luxury single malt whisky The Dalmore is leading our premium Scotch whisky business followed by Fettercairn, Tamnavulin, Jura, and Shackleton. And we have a compelling brandy portfolio comprised of the world’s leading brandy by volume, Emperador, Spanish brandies Fundador and Tres Cepas, and Mexican brandy Presidente,” he added.

The distribution network of Emperador’s liquor products currently span more than 100 countries. The company owns Emperador Distillers, Inc.; Scotch whisky maker Whyte and Mackay Group and Spain-based Bodegas Fundador.

The company earlier said it wants its whiskey business to account for a bigger chunk of revenues as it expands its presence overseas. Mr. Co had said whiskey could be adding 30% of the revenues in five years from 28% last year, while the remainder comes from Emperador’s brandy business.

Meanwhile, the company said it may buy back up to P3 billion of its shares until May 16 next year after it extended its two-year share buyback program. It has so far repurchased about 392.65 million shares worth about P2.83 billion since the program started two years ago.

Emperador shares were flat at the stock exchange on Thursday to close at P7 each. — Denise A. Valdez