EMPERADOR, Inc. on Thursday said its net income increased by 8% in 2018 supported by strong growth of its whisky products around the world.
In a statement, the liquor unit of tycoon Andrew L. Tan’s Alliance Global, Inc. said net profit stood at P6.8 billion in 2018, driven by the 10% rise in revenues to a record P47 billion.
“Our renowned brandy and whisky products sold all over the world are the catalysts for continued growth and long-term shareholder value enhancement. Internationalization and premiumization will be the new frontier of growth moving forward,” Winston S. Co, president and CEO of Emperador, was quoted saying in the statement.
Emperador noted the Asian market has the strongest growth as revenues more than doubled, driven by the Dalmore — Whyte and Mackay’s single malt whisky.
Among the local brands, Mr. Co said that Emperador is still the leading brand in the Philippines.
“Emperador brandy continues to lead the domestic market. New programs are being initiated to capture the growing middle class consumers,” he said.
The company currently has an ongoing share buyback valued up to P5 billion over a 24-month period, which began in May 2017. To date, Emperador has bought back 259 million shares worth around P1.86 billion.
Emperador owns Emperador Distillers, Inc., Scotch whisky maker Whyte Mackay Group, and Bodegas Fundador in Spain.
Shares in Emperador went down by 0.55% or 0.04 centavos to close to P7.26 apiece in the stock exchange on Thursday. — Vincent Mariel P. Galang
