Date: July 15, 2020
Publication: https://www.bworldonline.com/
Link: https://www.bworldonline.com/emperador-projects-sales-from-china-to-double/

EMPERADOR, Inc. is expecting revenues from China to double at the end of the year as it has been recording double-digit sales growth from overseas markets in the first half.

In a statement Tuesday, the listed brandy and whisky manufacturer said its sales in China, United Kingdom, Russia, United States, Sweden, Spain and Indo-China were on an uptrend in the six months to June.

Specifically, it said the Chinese market was able to bounce back quickly despite the implementation of quarantine measures due to the coronavirus disease 2019 (COVID-19) pandemic.

“We are very optimistic that our Whyte and Mackay full-year revenues in China will more than double this year,” Emperador International CEO Glenn Manlapaz said in the statement.

“We are pleasantly surprised at China’s remarkable resilience and its strong preference for luxury and super premium goods has returned so quickly as it began its V-curve recovery,” he added.

Mr. Manlapaz said sales orders in China for the months of June and July were already up 125% year on year.

In the United Kingdom, Emperador’s wholly owned subsidiary Whyte and Mackay Ltd. posted a 34% growth in sales during the first half. This was attributed to its blended scotch products, which it said was the second most-selling whisky in Scotland.

In Russia, sales of whisky in the six months rose 69% due to its premium brands under Whyte and Mackay such as Jura. “Aside from whisky, the untamed island, where Whyte & Mackay owns the one and only distillery, has been popular for its soaring mountains, wildlife and swirling whirlpools,” it said.

The sales growth in overseas markets is expected to help lift the company from its first-quarter performance, when revenues fell 4% to P10.36 billion due to the imposition of a local liquor ban when the government implemented a coronavirus-related lockdown. Emperador’s attributable earnings dropped 16% to P1.46 billion.

Emperador is under Alliance Global Group, Inc., the holding firm of tycoon Andrew L. Tan, which also has interests in real estate, hotel and casino, and McDonald’s Philippines.

Shares in Emperador at the stock exchange climbed 30 centavos or 3.53% to close at P8.80 each on Tuesday. — Denise A. Valdez