International expansion lifts Emperador’s profit to P2.5B

Emperador, Inc.’s profit to owners climbed by over a quarter in the three months to September, attributed to contributions of its thriving international business.

The listed liquor maker earned P2.5 billion in the third quarter, while its total revenues went up 4.5% year-on-year to P12.9 billion.

“With very limited on-trade and travel retail, restricted air and, seaports in most countries, and liquor bans, the Group took advantage of the buoyant off-trade and e-commerce channels as well as new open markets to do business,” it said.

By segment, its brandy business posted a 32% growth in revenues to P8.6 billion in the quarter when borders reopened. “When borders began opening up in June, sales picked up in Europe, Asia, and (the) Americas,” it said.

Meanwhile, its whisky business saw a 19% increase in revenues in July-September to P4.3 billion.

The company owns Emperador Distillers, Inc., Scotch whiskey maker Whyte and Mackay Group, and Spain-based Bodegas Fundador.

Year-to-date, the company’s net profit to owners rose by 11% to P5.9 billion, while revenues climbed by 2% to P34.5 billion.

On Friday, shares in Emperador inched up 0.20% to close at P10.02 each. — Adam J. Ang