EARNINGS of Emperador, Inc. rose 10% in the first quarter of 2019, driven by the introduction of more products both locally and abroad.
In a statement issued Tuesday, the listed liquor manufacturer said net income attributable to the parent hit P1.74 billion for the first three months of the year, on the back of a 13% increase in revenues to P11 billion.
“Our overall business continues to show robust performance… Whisky and premium brandy sales in the first three months of 2019 again proved to be strong. This continues to be driven by our malt whisky and premiumization strategy,” Emperador President Winston S. Co said in a statement.
Emperador said its brandy products also boosted earnings for the period, with brands Fundador and Tres Cepas emerging as the fastest growing brandies in the Philippines against other foreign brands.
Other brands introduced over the last two years are three malt whiskies under the portfolio of Scotch whisky maker Whyte and Mackay, namely Tamnavulin, Fettercairn, and Shackleton. The company noted that the three brands showed “robust signs of growth” for the quarter.
The Shackleton brand — initially intended for the United Kingdom, United States, and travel retail market — will be launched in the Philippines this year.
The company also continued its expansion to different regions, including Europe, North America, the Middle East, Africa, and the Asia Pacific.
Emperador has recently extended its P5-billion share buyback program by another 12 months, since the activity is scheduled to end on May 15. The company has only bought back about P2 billion consisting of 279 million shares in the past two years.
A share buyback program is conducted when a firm believes that its stocks are undervalued and also to boost its financial statements.
Shares in Emperador added a centavo or 0.13% to close at P7.53 each at the stock exchange on Tuesday. — Arra B. Francia