LIQUOR manufacturer Emperador, Inc. posted double-digit bottomline growth for the third quarter of 2020 due to improved sales from its overseas operations.
In a statement on Monday, the Andrew L. Tan-led company said its net income during the July-to-September period stood at P2.5 billion, up by a record 26% from the same period a year ago.
Year-to-date, its net income grew 11% to P5.9 billion, owing to the robust sales of its brandy and whisky products in international markets.
“The success of our international expansion boosted company earnings, bringing stability and growth at a time when the Philippines wrestles with the impact of the coronavirus,” Emperador President and CEO Winston S. Co said in the statement.
“Emperador’s global business saw double-digit growth as it adapted well to new consumption trends,” he added.
As the Philippine capital remains under quarantine since mid-March to contain the coronavirus outbreak, Emperador banked on its operations in the United States, Canada, Italy, Spain, United Kingdom and Greater China for its Fundador, Tres Cepas and Emperador brands.
It said the Fundador brand tripled its sales in Canada during the nine-month period due to the introduction of Fundador Light in Alberta this year. The brandy also recorded a 185% sales growth in the United Kingdom, a 23% sales growth in North America, a 15% sales growth in Italy and an 8% sales growth in Mexico.
In Spain, the company said products of Grupo Emperador España S.A. have maintained dominance with a 40% share in the brandy market.
“We are glad that the company was able to deliver solid performance in the first nine months of 2020 on the strength of its international business that we have developed in the past five years. The highest international growth comes from China, which is expected to more than double from last year, which will be driven by the premium single malt brands and brandy,” Emperador International CEO Glenn Manlapaz said in the statement.
“We are confident that this will pave the way for further growth in the future for Emperador,” he added.
Shares in Emperador at the stock exchange closed at P10.02 apiece on Monday, up two centavos or 0.20% from the last session. — Denise A. Valdez