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Emperador profit up 2% in 1st half

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EMPERADOR, Inc. reported a net income attributable to the parent of P3.25 billion in the first half of 2019, following higher sales from its international business.

In a statement issued Thursday, the listed brandy company said attributable profit was 2% higher year on year, while revenues were up by 10% to P21.4 billion. The company did not provide second-quarter figures.

Emperador benefited from the growth of its whisky and brandy products in overseas markets, such as Africa, Canada, France, Germany, Greater Europe, Asia, and the United States.

The company noted that its Whyte and Mackay’s malt whisky products are “doing well,” alongside other brands Jura, Fettercairn, Tamnavaulin, and Shackleton. It also described its Fundador brand to be one of the fastest-growing imported spirits in the country.

Emperador is currently conducting a share buyback program worth up to P5 billion until May 16, 2020. So far, the company has already repurchased about 310 million shares worth around P2.2 billion.

Shares in Emperador dropped 0.26% or two centavos to close at P7.62 each at the stock exchange on Thursday. — Arra B. Francia

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