Banking, tobacco lift LT Group’s Q1 profit by 13% to P7.24 billion

May 15, 2025 | 12:11 am

LT GROUP, Inc. reported a 13% increase in first-quarter (Q1) attributable net income to P7.24 billion from P6.42 billion a year earlier, driven by its banking, tobacco, liquor, and beverage units.

The company’s first-quarter performance represents its highest result since its follow-on public offering in 2013, LT Group said in a stock exchange disclosure on Wednesday.

Among its business units, Philippine National Bank (PNB) was the largest contributor, accounting for 47% of the total, or P3.42 billion. Fortune Tobacco Corp. (FTC) followed with 39%, contributing P2.8 billion.

Tanduay Distillers, Inc. (TDI) and Asia Brewery, Inc. (ABI) posted P525 million and P178 million in net income, respectively, accounting for 7% and 3% of the total.

Eton Properties Philippines, Inc. contributed 2% or P143 million, while Victorias Milling Co., Inc. added 2% or P154 million.

For the banking business, PNB’s net profit under the pooling method increased by 15% to P6.09 billion.

Gross interest income rose by 7% to P17.17 billion, supported by higher yields and increased volumes in trading and investment securities, as well as loans and receivables.

In the tobacco sector, FTC saw a 6% increase in net income to P2.81 billion, driven by higher equity in net earnings from PMFTC, Inc.

Despite a flat industry volume of 11.9 billion sticks, PMFTC’s volume increased to 5.6 billion sticks from 5.5 billion in the same period last year.

Tanduay Distillers, Inc. posted a 107% growth in net income to P528 million, with net revenue rising 22% to P7.19 billion, fueled by higher sales volume and increased selling prices.

TDI continued to perform strongly in the Visayas and Mindanao regions, holding market shares of 67.5% and 81.6%, respectively.

Its nationwide market share for distilled spirits rose to 38.1%, up from 32.9% last year.

Asia Brewery, Inc. saw its net income grow to P178 million, although revenues for the beverage segment declined by 2% to P4.31 billion, attributed to lower sales volume of the Cobra energy drink brand.

In the property segment, Eton Properties posted P144 million in net income, up from P116 million last year.

Leasing revenue was essentially flat at P473 million, while real estate sales reached P102 million as the company continued to sell remaining inventory from previously launched projects in 68 Roces in Quezon City and Eton City, Laguna.

Eton’s leasing portfolio includes 269,400 square meters, with approximately 192,000 square meters allocated to office space.

Shares of LT Group dropped by 3.06% or 38 centavos to P12.02 per share on Wednesday. — Revin Mikhael D. Ochave

Vitarich Q1 net income jumps to P241.6 million

May 15, 2025 | 12:10 am

LISTED poultry integrator Vitarich Corp. saw its first-quarter (Q1) attributable net income jump to P241.6 million from P620,959 a year earlier, supported by higher chicken prices and a new revenue stream.

“This marked a record quarter that exceeded the company’s internal forecasts,” Vitarich said in a stock exchange disclosure on Wednesday.

Revenues rose by 8.8% to P3.2 billion from P2.94 billion, while gross profit more than doubled to P607.53 million from P245.99 million in the same period last year.

The company said revenue growth was partly offset by lower chicken volumes and “reduced pricing for feeds due to the limited supply of day-old chicks in the market.”

Food products contributed 62.8% of total revenues, followed by feeds at 28.7% and farms at 8.5%.

Government data showed that full-dressed chicken prices in Metro Manila averaged P206.97 per kilogram in the last week of March, higher than P180.70 per kilogram from March 25 to 27.

In addition to nationwide price increases, Vitarich attributed its improved performance to the “addition of a new revenue stream from day-old pullets.”

Its food segment includes chicken and dory fish products sold to hotels, restaurants, institutional clients, supermarkets, and wet markets.

In March, Vitarich signed an exclusive distribution agreement with French breeding company Novogen for NOVOgen White hens.

The company also said it is strengthening its food segment under the Cook’s brand “by scaling up its fresh and ready-to-cook chicken products and investing in marketing.”

Operating profit surged to P349.8 million from P24.1 million last year.

Operating expenses rose to 8.1% of revenues, driven by higher freight and handling costs, merchandiser salaries, and training and marketing expenses.

“As we move through the year, short-term disruptions such as the shortage of day-old chicks may continue but we remain focused on pursuing a range of opportunities that we believe will further strengthen our business and fuel sustained growth in the years ahead,” Vitarich Chief Executive Officer Ricardo Manuel M. Sarmiento said. — Kyle Aristophere T. Atienza

MacroAsia earnings climb 20% on aviation, food service growth

May 15, 2025 | 12:09 am

MACROASIA Corp. reported a 20.78% year-on-year increase in its first-quarter (Q1) attributable net income, reaching P313.91 million, driven by strong performance in its aviation services and food units.

For the January-to-March period, the company posted combined revenues of P2.35 billion, a 5.86% increase from P2.22 billion during the same period last year.

The majority of the company’s revenue, P1.15 billion, came from in-flight and other catering services, reflecting an 8.49% growth from P1.06 billion in the previous year.

This increase was driven by a 13% rise in meal count, which reached 6.25 million from 5.53 million, the company said.

Ground handling and aviation services generated P1.02 billion in revenues, a 2% increase from P998 million in the prior period. Water distribution revenues reached P171.6 million, an 11.36% increase from P154.1 million last year, while revenues from other services grew by 38.38% to P13.7 million from P9.9 million in Q1 2024.

Despite the growth in revenues, MacroAsia noted that the slight increase in ground handling and aviation services revenue was attributed to a decrease in the number of flights handled, which dropped to 47,546 from 48,085 in the same period last year.

The company’s total expenses rose by 11.34% to P2.16 billion, up from P1.94 billion in the first quarter of 2024.

MacroAsia further highlighted that passenger load and flight frequency continue to drive growth in its aviation services.

“[The] privatization of NAIA operations is expected to lead to increased flight volumes and passenger traffic as airport facilities expand and operational efficiency improves,” it said, adding that it anticipates costs at the airport to rise as the country’s primary gateway is now managed by a private operator.

The company is also exploring the expansion of its food catering services outside Metro Manila to increase production capacity at its Muntinlupa commissary. Contracts are being secured for the construction of facilities within MacroAsia-owned property.

“The Food Group’s strategy to diversify its revenue base beyond aviation catering has yielded positive results, with several major accounts already secured and being served,” the company said.

On the local stock exchange, shares of MacroAsia closed at P3.85 apiece, down by two centavos or 0.52%, on Wednesday. — Ashley Erika O. Jose

PLDT Global partners with Venio to boost digital services

May 15, 2025 | 12:08 am

PLDT INC., through its unit PLDT Global Corp., has entered into a partnership with US-based financial technology company Venio to enhance its digital services and extend its market reach, the Pangilinan-led telecommunications company announced on Wednesday.

“We are thrilled to partner with Venio to enhance our service offerings… This collaboration will not only increase the adoption of the TinBo app but also expand the availability of our digital and telecom services through Venio’s established distribution network,” PLDT Global President and Chief Executive Officer Albert V. Villa-Real said in a media release.

TinBo, PLDT Global’s one-stop gateway, offers an expanded suite of digital services. PLDT Global is the technology services arm of PLDT, providing communication infrastructure and digital platforms to its global network of carriers.

Under the partnership, Venio will promote and facilitate the availability of the TinBo app in key international markets, including the US, Canada, Australia, and the United Arab Emirates.

“This includes collaborations with Filipino-focused businesses, retail channels, and fintech institutions to ensure that overseas Filipinos have easy access to the app and its services,” PLDT said.

Additionally, PLDT Global’s products will be integrated into Venio’s platform, enabling retailers to expand their portfolios. Venio will serve as PLDT Global’s business-to-business partner for the distribution of its products and services.

Hastings Holdings, Inc., a subsidiary of PLDT Beneficial Trust Fund and part of MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Ashley Erika O. Jose

DMCI Holdings Q1 profit falls 9% to P5.1 billion

May 15, 2025 | 12:07 am

DMCI_Homes_Marubeni_The_Valeron_Tower_C5_Pasig_roofdeck — The Valeron Tower will soon rise along the C-5 Ortigas Corridor in Metro Manila. — COURTESY OF DMCI HOMES

CONSUNJI-LED engineering conglomerate DMCI Holdings, Inc. reported a 9% decline in its first-quarter (Q1) net income to P5.1 billion from P5.6 billion a year earlier, weighed down by lower coal prices and the ongoing integration of its recently acquired cement business.

In a regulatory filing on Wednesday, the company said total revenues rose by 16% to P31.86 billion, driven by the addition of the cement business, higher construction and real estate revenue recognition, increased on- and off-grid power dispatch, and stronger nickel sales and prices.

“Market conditions today are very different from five years ago, but our businesses have adapted well. We continue to pursue organic growth across the portfolio,” DMCI Holdings Chairman and Chief Executive Officer Isidro A. Consunji said in a separate statement.

Coal producer Semirara Mining and Power Corp. contributed P2.5 billion, down 31% from a year ago, due to lower coal prices and a higher share of lower-grade coal shipments. The decline was partially offset by stronger on-grid power operations.

Real estate unit DMCI Homes, Inc. posted a 56% increase in contribution to P1.4 billion, supported by newly recognized accounts, higher income from forfeitures and rentals, and stronger finance income.

Water concessionaire Maynilad Water Services, Inc. grew its contribution by 39% to P926 million, backed by a higher average effective tariff and lower cash costs.

DMCI Holdings holds a 25% stake in Maynilad.

The off-grid power business, led by DMCI Power Corp., increased its contribution by 2% to P270 million, driven by higher energy sales and the expansion of bunker-fired capacity in Palawan.

DMCI Mining Corp. delivered a P409-million net income, reversing the P22-million net loss a year earlier, due to strong operations and improved selling prices.

Construction arm D.M. Consunji, Inc. posted a lower contribution of P50 million, down from P98 million, amid higher cash costs, project delays, and conservative revenue recognition practices.

Cement producer Concreat Holdings Philippines, Inc., formerly known as Cemex Holdings Philippines, Inc., incurred a P564-million net loss due to reduced volumes and higher interest expense. DMCI Holdings completed its acquisition of Concreat in December last year and has commenced integration efforts to support future improvements.

On Wednesday, DMCI Holdings shares declined by 1.32% or 14 centavos to close at P10.50 apiece. — Revin Mikhael D. Ochave

For saké’s sake

May 15, 2025 | 12:07 am

SAKÉ is one of the most important drinks of Japan, as it should be, coming from one of their most important food staples, rice (now that’s Japanese efficiency: two products from one crop). While poems, books, and songs have been written about saké in its homeland, it hasn’t quite reached the same level of hype here — but then, we could be wrong.

This year’s Saké Manila, a partnership between Okada Manila and Philippine Wine Merchants (PWM), will be held at Okada’s Grand Ballroom on May 23, beginning at 5 p.m. Tickets are available at https://sakemanila.ph/ for P6,000 each. That brings the guest access to tastings and talks, with 200 premium labels of saké, shochu, whisky, gin, beer, and wine from over 40 distillers and breweries. There’s going to be a cultural showcase with Japanese Taiko drummers and koto players, and a tuna parade and tuna carving.

Last year’s saké spectacle brought in about 100 labels (as opposed to this year’s 200), and more than 1,200 people: “We had to turn down people,” recalled Robi Joseph, director for Philippine Wine Merchants.

The road to 1,200 visitors for the Joseph family (one of the best-known in the Philippines when it comes to importing beverages) started out with Saké Sessions they used to offer at restaurants, pocket sessions designed to educate interested customers about saké. Speaking about this town’s hottest (or chilled; that’s a joke about saké serving temperatures) new drink, he said in an interview a month ago at Okada, “Part of it is the approachability of saké. A lot of people really want to learn more about it; a lot of people who are interested in the culture of Japan.”

“It’s grown; every year,” he said about their growing sales of saké. He recalled a time that they were bringing over two or four container vans filled with just one particular label from Dassai, a saké maker. “It would always get wiped out… they’re just crazy about it.”

Mr. Joseph discussed his own preferences for saké: “It doesn’t trigger my hyperacidity, unlike other wines. I find it easier to drink.

“The buzz is really nice. It’s a different kind of buzz. Like any alcohol, it brings down your walls. But there’s something about saké that just makes you want to talk more,” he said. “Stories, conversations: they’re richer. But that’s just anecdotal.”

He made us taste a Junmai Daiginjo from Tatenokawa — one of the higher grades of saké. The grades are determined by how much the rice has been polished. “The closer you are to that core, the more pure the saké is,” he said, while mentioning that this particular variety had been made with rice polished at 1%, shrinking the grains and making them even more precious. It tasted like plums — despite being made of just rice.

While cheaper saké brands at Japanese restaurants could be had at P300, prices may go up to between P3,000 to P20,000 (the full price range from entry level to premium can be found at Saké Manila).

“It’s really a very special beverage. Just like wine, just like any other alcoholic beverage, it’s steeped in culture and history. Every glass tells a story. There’s so much artistry that goes behind the creation of saké,” he said.

For more information, visit https://sakemanila.ph/. — Joseph L. Garcia

Bloomberry Q1 profit up 26% to P3.3 billion

May 15, 2025 | 12:06 am

RAZON-LED listed integrated resort developer Bloomberry Resorts Corp. reported a 26% increase in its first-quarter (Q1) net income to P3.3 billion from P2.6 billion a year earlier, driven by higher gaming revenue.

Adjusting for the P2.9-billion one-time, non-cash gain from refinancing its P40-billion syndicated loan facility in February, Bloomberry said its first-quarter net income would have dropped by 83% to P445.8 million.

Gross gaming revenue (GGR) rose by 14% to P16.8 billion from P14.8 billion last year, led by contributions from Solaire Resort North in Quezon City.

“GGR generated by the mass tables and electronic gaming machines (EGM) segments across both our Metro Manila properties grew by 29%, powered by a resilient domestic mass market player base,” Bloomberry Chairman and Chief Executive Officer Enrique K. Razon, Jr. said.

“Solaire North continued to gain ground as GGR across the board increased by 29% sequentially, resulting in a P1.1-billion contribution to consolidated earnings before interest, taxes, depreciation, and amortization. However, Solaire Entertainment City’s year-over-year results were impacted by softness in gaming volumes arising from slow VIP play and the Philippine offshore gaming operators ban,” he added.

Total GGR at Solaire Resort Entertainment City fell by 18% to P12.1 billion due to lower volumes and hold rates in the VIP and EGM segments.

Solaire Resort North generated P4.6 billion in GGR as it continued to ramp up its VIP, mass tables, and EGM segments, supported by domestic demand.

Jeju Sun Resort & Casino in South Korea recorded P3.7 million in GGR, down from P15.6 million last year.

Bloomberry’s consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) declined by 11% to P4.4 billion. Excluding the P279.5-million pre-operating expenses of Solaire Resort North recorded in the first quarter of 2023, consolidated EBITDA would have dropped by 15%.

Non-gaming revenue increased by 35% to P3 billion from P2.2 billion a year ago.

Meanwhile, Mr. Razon said Bloomberry expects a boost from its upcoming online product under the Solaire brand.

“We are fully committed to pushing the performance of both of our resort businesses and Solaire Online even as we are focused on ramping our new online product which will be launching in the coming weeks,” Mr. Razon said.

Bloomberry shares declined by 2.91% or 12 centavos to close at P4 apiece on Wednesday. — Revin Mikhael D. Ochave

Stanley Tucci says hosting tougher than acting as he launches culinary travel series

May 15, 2025 | 12:06 am

LONDON — Stanley Tucci is no stranger to hosting a television series, but when asked how it compares to acting, the Oscar nominee is clear: “Hosting is harder because you have to be yourself.

“And the reason actors become actors is they probably don’t want to be themselves all the time,” he said, laughing.

Known for films like Conclave, Julie & Julia, The Devil Wears Prada, and The Hunger Games, Mr. Tucci embarks on a culinary journey across Italy in his new show, Tucci in Italy.

From sampling traditional knödel in Trentino Alto-Adige to tucking into succulent porchetta in Lazio, the five-episode series sees him talking to chefs, farmers, shopkeepers, and everyday Italians about their food and traditions.

He describes it as “an exploration of what makes up Italy through the prism of food.”

“(Italians) live to eat and everybody else eats to live… You can talk to a cab driver and you can talk to someone of the aristocracy… and they’ll talk about food in the same way,” Mr. Tucci said in an interview with Reuters.

“And were they to meet, they would talk about food in the same way and they would talk in-depth about it. I don’t know another culture that would do that, where it just breaks down all boundaries.”

In the show, Mr. Tucci travels to five regions — Tuscany, Lombardy, Trentino-Alto Adige, Lazio, and Abruzzo.

While not a fan of spice, Mr. Tucci said he was willing to try anything: “I sort of did, I think, on this trip. There was lots of offal, which I love.”

“When I was watching the episodes again, I was like, there really is a lot of offal in these episodes… but that’s just a part of what Italy is and that’s what they eat.”

Mr. Tucci, the author of several cookbooks, has Italian origins and has lived as well as visited the country before — including for his previous travel and food show, Stanley Tucci: Searching for Italy.

“The more I travel through Italy, the more I see… reminders of people in my childhood,” he said.

“You might see somebody who looks like your aunt or your great aunt or your grandfather… and it makes you feel connected to the people that you’ve lost.”

Tucci in Italy streams on Disney+ from May 19 and premieres on National Geographic on May 21. — Reuters

Treasury fully awards dual-tenor bond offering

May 15, 2025 | 12:06 am

THE GOVERNMENT made a full award of the dual-tranche Treasury bonds (T-bonds) it offered on Wednesday, with investors swamping the shorter tenor amid dovish signals from the Bangko Sentral ng Pilipinas (BSP).

The Bureau of the Treasury (BTr) raised P35 billion as planned via its dual-tenor T-bond offer as total bids reached P91.812 billion, or more than double the amount placed on the auction block.

Broken down, the Treasury borrowed the programmed P15 billion via the reissued seven-year bonds, with total bids reaching P63.922 billion or more than four times the amount on offer.

“The auction was met with heavy demand… With its decision, the Committee raised the full program of P15 billion, bringing the outstanding volume for the series to P301.4 billion,” the Treasury said in a statement, adding that the bond fetched an average rate that was lower than what was quoted for the previous reissuance and the comparable secondary market benchmark yield.

The bonds, which have a remaining life of two years and 11 months, were awarded at an average rate of 5.703%. Accepted yields ranged from 5.65% to 5.75%.

The average rate of the reissued papers went down by 7.6 basis points (bps) from the 5.779% fetched for the series’ last award on March 25, but was 207.8 bps above the 3.625% coupon for the issue.

This was also 6 bps below the 5.763% fetched for the same bond series and 8.7 bps lower than the 5.79% quoted for the three-year bond — the benchmark tenor closest to the remaining life of the issue — at the secondary market before Wednesday’s auction, based on PHP Bloomberg Valuation Service (BVAL) Reference Rates data provided by the BTr.

Meanwhile, the government also raised P25 billion as planned from the reissued 20-year T-bonds it auctioned off on Wednesday, with total bids for the tenor reaching P27.89 billion.

This brought the total outstanding volume for the bond series to P192.7 billion.

The notes, which have a remaining life of 19 years and 13 days, were awarded at an average rate of 6.486%. Accepted yields ranged from 6.375% to 6.618%.

The average rate rose by 11 bps from the 6.376% fetched for the series’ last award on Feb. 25 but was 38.9 bps lower than the 6.875% coupon for the issue.

This was also 8.8 bps above the 6.398% seen for the same bond series and 23.6 bps higher than the 6.25% quoted for the 20-year bond at the secondary market before Wednesday’s auction, PHP BVAL Reference Rates data showed.

The Treasury fully awarded the reissued seven-year bonds as the offer was met with strong demand, a trader said in a text message.

“The 20-year reissue, on the other hand, was awarded at the higher end of the expected range,” the trader added.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the reissued seven-year papers fetched lower yields following dovish signals from the BSP chief.

BSP Governor Eli M. Remolona, Jr. earlier said the Monetary Board was open to cutting rates by a further 75 bps this year amid easing inflation.

The Monetary Board last month resumed its easing cycle after an unexpected pause in February, cutting benchmark rates by 25 bps to bring the policy rate to 5.5%. Its next meeting is on June 19.

April inflation slowed to an over five-year low of 1.4% from 1.8% in March and 3.8% a year earlier. For the first four months, it averaged 2%, at the low end of the BSP’s 2-4% annual target.

Meanwhile, the 20-year bond’s average yield rose was higher than what was quoted for the previous reissue and prevailing BVAL rates after the BTr’s recent jumbo issuance of 10-year benchmark fixed rate Treasury notes siphoned off some liquidity from the market.

The BTr is looking to raise P260 billion from the domestic market this month, or P100 billion via Treasury bills and P160 billion through T-bonds.

The government borrows from local and foreign sources to help fund its budget deficit, which is capped at P1.54 trillion or 5.3% of gross domestic product this year. — Aaron Michael C. Sy

San Miguel Corp. announces Regular Meeting of Stockholders on June 10 via remote communication

May 15, 2025 | 12:05 am

NOTICE OF REGULAR MEETING OF THE STOCKHOLDERS
June 10, 2025

The Regular Meeting of the Stockholders of San Miguel Corporation will be held on Tuesday, June 10, 2025 at 2:00 P.M.

The Stockholders’ Meeting will be conducted via remote communication and livestreamed at the Company’s website. Stockholders can attend the meeting by remote communication.

The Agenda of the Meeting is as follows.

Certification of Notice and Quorum
Approval of the Minutes of the Regular Stockholders’ Meeting held on June 11, 2024 and the Special Stockholders Meetings held on August 8, 2024 and March 27, 2025
Presentation of the Annual Report
Ratification of Acts and Proceedings of the Board of Directors and Corporate Officers
Approval of Directors’ Fees for 2024
Appointment of External Auditors
Election of the Board of Directors
Other Matters
Adjournment

Stockholders who would like to attend the online meeting should access the 2025 SMC AGSM Website at www.sanmiguel.com.ph/AGSM2025 to obtain the following, namely:

(a) the minutes of the 2024 Regular Stockholders’ Meeting,
(b) the minutes of the Special Stockholders Meetings held on August 8, 2024 and March 27, 2025,
(c) the resolutions of the Board of Directors beginning January 1, 2024 which will be available online beginning May 16, 2025,
(d) the ballots and proxies to attend the meeting, and
(e) the link to view the livestream of the meeting which will be available on the day of the meeting.

During the meeting, the Company shall entertain questions and comments from the stockholders after the presentation of the Annual Report. Questions and comments must be submitted either in advance or during the meeting by email to stockholders@sanmiguel.com.ph. Questions which were not answered during the meeting shall be forwarded to the Office of the Corporate Secretary for the appropriate response.

Ballots and proxies can be submitted via email at stockholders@sanmiguel.com.ph which submission shall be duly acknowledged and validated by the SMC Stock Transfer Service Corporation. For individual stockholders, the submissions must be accompanied by a copy of a government issued ID as proof of identification. For corporations, the submission must be accompanied by a certification from its Corporate Secretary stating the corporate officer’s authority to represent and sign on behalf of the corporation. Kindly submit to the SMC Stock Transfer Service Corporation the original signed and notarized documents within a reasonable time after the resumption of regular business operations.

The deadline for submission of ballots and proxies is on May 27, 2025. Validation of ballots and proxies will be on June 3, 2025, at 10:00 a.m. at the SMC Stock Transfer Service Corporation Office, 2nd Floor, SMC Head Office Complex, No. 40 San Miguel Ave., Mandaluyong City, Philippines.

(Original Signed)
Virgilio S. Jacinto
Corporate Secretary

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Emperador expands farmland and distilleries, sees increased Q1 profits

May 15, 2025 | 12:05 am

TAN-LED Emperador, Inc. is expanding its vineyard portfolio in Spain and distilleries in Scotland to boost its global presence over the next five years.

“Our ongoing expansions in the United Kingdom, Spain, and Mexico are testaments to our unwavering resolve to pursue our global aspirations,” Emperador President and Chief Executive Officer Winston Co said in a media release on Wednesday.

The company said expanding its farmland by an additional 470 hectares is expected to boost its farming capacity, currently at about 17 million kilos per year.

Emperador’s expansion of The Dalmore distillery in Alness, Scotland, is expected to double the brand’s production capacity while also providing a new visitor experience.

The company is also expanding its whisky maturation complex at its Invergordon distillery, doubling its footprint to 92 hectares from 45.4 hectares. This extension will enable the grain distillery to add 1.5 million additional casks of maturing whisky.

Moreover, Emperador said the expansion of its wholly owned subsidiary, Whyte & Mackay, in the United Kingdom “continues to contribute significantly to the company’s goal of meeting greater global demand for single malt whiskies.”

In February, the company’s subsidiary Casa Pedro Domecq acquired 60% of Destileria Los Danzantes S.A. de C.V. for P80 million.

Emperador said it expects the newly acquired mezcal brands Los Danzantes and Alipus to be available this year in the Philippines.

For the first quarter, Emperador saw its attributable net income increase by 6.5% to P1.85 billion from P1.74 billion in the previous year.

Revenues and other income slightly increased by 0.6% to P13.21 billion from P13.12 billion a year ago.

For the first three months, Emperador said it recorded a 7% increase in volume and a 10.8% increase in value, based on consumer consumption data.

“These numbers are especially encouraging considering the current status of the spirits market in Spain, which declined by about 6.3%,” the company said.

At the local bourse on Wednesday, shares in the company closed unchanged at P16.50 per share. — Sheldeen Joy Talavera

BPI recognized at PR Awards for purpose-driven communications

May 15, 2025 | 12:05 am

(L-R): BPI’s Jean Salvador, Internal Communications Head and Joey Silvestre, External Communications and Media Relations Head.

The Bank of the Philippine Islands (BPI) has once again reinforced its standing as a communications leader in the region, earning honors at the prestigious PR Awards 2025. These recognitions reflect the bank’s commitment to using purpose-driven communications as a strategic force for social impact, sustainability, and community engagement.

The PR Awards, organized by Marketing-Interactive, honor the best public relations and communications work from Southeast Asia, South Asia, and Oceania. Judged by a panel of independent industry leaders, the awards celebrate campaigns that push boundaries and drive meaningful results.

BPI took home a Silver award for Best PR Campaign: Banking / Financial Services for its Sustainability Awareness Month 2024 Media Briefing, which was also named a finalist in the Best Event-Led PR Campaign category. In addition, the bank earned a Bronze award for Best PR Campaign for a Specific Audience for its #ProudtoBePartofIt campaign, and was recognized as a finalist in the Best Engagement for a Targeted Community category for its #BestLifeRun — Corporate Race.

(L-R): Punitha Aranha, Former Communications & Engagement Director, Novartis; and Joey Silvestre, External Communications and Media Relations Head, BPI.

“These recognitions affirm our commitment to using communications to create meaningful connections with the people and communities we serve,” said Elena Torrijos, BPI Public Affairs and Communications Head.

These distinctions underscore BPI’s ability to craft authentic stories and initiatives that inspire action, strengthen relationships, and create lasting impact for clients, partners, and the wider community.

(L-R): Glenn Lim; Director of Communications and Customer Experience, Tower Transit Singapore; and Jean Salvador, Internal Communications Head, BPI.

“Our campaigns are designed to reflect what matters to our stakeholders — from financial wellness and inclusion to environmental stewardship and employee engagement. At BPI, we believe communications is a strategic tool that connects ideas, communities, and action,” Torrijos added.

BPI’s award-winning projects reflect its broader purpose to help build a better Philippines — one family, one community at a time. Whether fostering conversations on financial inclusion, advancing climate resilience, or celebrating the strength of its own people, BPI’s communications approach is rooted in genuine connections and measurable impact.

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