BRANDY AND WHISKEY manufacturer Emperador, Inc. posted an 18% increase in its earnings to owners to P8 billion last year after its international business remained strong amid the coronavirus disease 2019 (COVID-19) pandemic.
The listed company said in a regulatory filing on Thursday that its revenues for 2020 reached P52.6 billion after the strong performance of its international business.
Emperador said it continued the growth trajectory of its businesses in the United Kingdom, Asia, Europe, United States, Netherlands, Sweden, and Russia.
“While certain aspects of the business have been affected by the impact of COVID-19 particularly on-trade and global travel retail resulting from lockdowns and dry law implementation, these have been offset by increased sales in off-trade and e-commerce,” the company said.
“While not totally impervious to the adverse effects of the conditions, Emperador’s global business adapted well to new consumption trends,” it added.
Emperador President Winston S. Co said the resilience of the company revealed the strength of the business and its whisky and brandy portfolio globally, which resulted in stability and growth despite the challenges.
“The company also took the opportunity to streamline efficiencies to enable the company to be nimble and effective in the markets. 2020 has set a new path and platform for our future growth,” Mr. Co was quoted as saying.
Emperador is a subsidiary of Alliance Global Group, Inc., the holding firm of tycoon Andrew L. Tan, who also has interests in real estate, hotel and casino, and fastfood chain McDonald’s Philippines.
It owns Emperador Distillers Inc.; Scotch whisky maker Whyte and Mackay Group Ltd.; and Spain-based Bodegas Fundador.
On Thursday, shares of Emperador at the stock exchange rose 0.39% or 0.04 centavos to end at P10.20 apiece. — Revin Mikhael D. Ochave
