EMPERADOR, Inc. recorded a 60% increase in net profit to owners at P3 billion in the second quarter as the easing of quarantine restrictions boosted its performance.
Its topline for the quarter jumped 21% to P13.2 billion from P10.88 billion year on year.
In the first semester, the company reported a 53% growth in net profit to owners, finishing with P5.1 billion versus the P3.33 billion logged in the same period last year.
“The gradual easing of quarantine restrictions in various parts of the world has buoyed our first half business performance,” Emperador President and Chief Executive Officer Winston S. Co said in a statement on Thursday.
“We hope global economies continue to rebound and return to some form of normalcy,” he added.
Emperador’s revenues for the January-June period grew by 18% year on year to P25.3 billion from P21.54 billion.
Mr. Co said both the brandy and whiskey segments gained from improving product mix and operating efficiency. Without disclosing specific numbers, he said both recorded increased margins and robust profitability.
The company owns Fundador Spanish Brandy de Jerez. Its Fundador Supremo 18 was recently awarded the highest platinum award by the San Francisco World Spirits Competition.
Scotch whisky producer Whyte & Mackay is another brand under the company’s belt. It received recognition as the “Distiller of the Year” at the Icons of Whisky Scotland 2021.
“We see the brandy business led by Fundador growing by double-digit in the UK, US, Canada, Spain, Mexico, Canada, and Asia, including the Philippines. The whiskey business continues to pace strongly led by North America, Europe and Asia, led by China,” said Mr. Co.
Emperador brandy and whisky products are on the shelves of stores in over 100 countries.
Shares of Emperador at the stock exchange rose by 7.54% or 96 centavos, closing at P13.70 each on Thursday. — Keren Concepcion G. Valmonte