EARNINGS of Emperador, Inc. climbed 18% in the third quarter amid the company’s efforts to bring in new products both in its local and international markets.
The liquor maker of tycoon Andrew L. Tan reported in a statement yesterday a profit of P1.7 billion in the July to September period, which came on the back of its P9.5 billion in revenues recorded for the quarter.
“We have committed considerable amount of resources to bring new exciting products to the Philippine and overseas markets,” Emperador President Winston S. Co was quoted as saying in a statement.
“This is in line with ongoing efforts in pursuit of premiumization strategy in the Philippines as well as our strategy to grow Scotch whisky business worldwide and also potentially partake in the comeback of international brandy particularly in the luxury end of the spectrum,” Mr. Co added.
The company owns Emperador Distillers, Inc., Scotch whisky maker Whyte and Mackay Group, and Bodegas Fundador in Spain. Included under Emperador’s brands are the Fundador, The Dalmore, and Jura.
Trading of Emperador shares resulted to a seven-centavo or 0.97% increase to P7.25 each at the stock exchange on Tuesday. — Arra B. Francia
