EMPERADOR, Inc.’s net income went up 11% to P1.66 billion in the first three months of 2018, driven by growth from international operations.
In a statement, the liquor arm of Alliance Global, Inc. said revenues likewise increased 8.5% to P9.7 billion. The company has yet to submit its first quarter financial statement to regulators.
“We are happy that Emperador is on to a good start with good growth coming from international operations — Scotch whisky and Spanish brandy — showing growth momentum moving forward. The single malt whisky business, in particular, continues to enjoy greater demand across all regions globally. Likewise, the brandy business continues to geographically expand its reach on the back of greater distribution, visibility and availability,” Emperador, Inc. President Winston S. Co was quoted as saying.
The company’s portfolio includes Spanish brandies such as Fundador, and Scotch whisky brands The Dalmore and Jura single malts.
“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,” Mr. Co said.
In 2017, Emperador reported a net income of P6.33 billion, 18% lower than the P7.7 billion recorded in the previous year, dragged by higher cost of goods sold and marketing expenses coupled with unrealized foreign currency losses.
Revenues rose 4% to P42.65 billion last year, mainly driven by its Scotch whisky and brandy segments. Cost and expenses also went up 10% to P34.82 billion.
