By James A. Loyola
Emperador, Inc., the world’s largest brandy company, reported an 18 percent hike in attributable net income to P3.2 billion in the first half of this year.
The firm owns Emperor Brandy and Spanish brandies, led by the iconic Fundador, as well as Scotch whisky brands led by The Dalmore and Jura single malts.
In a statement, the firm said net income jumped 34 percent in the second quarter of this year to P1.6 billion due to a 7 percent increase in revenues during the period.
Revenues grew 8 percent to P19.5 billion in the first six months of this year. Margins were higher during the periods in review.
“The strong performance comes from the strong growth of the international business amidst a soft domestic market,” said Emperador President Winston Co.
He noted that, “the premium Spanish brandy and Scotch whisky business continues to show robust growth led by Fundador brandy, The Dalmore and Jura single malt whiskies led by Asia and North America.”
Co said the local market continues to be soft but new market initiatives for growth are under way.
“We believe Emperador, Inc. is in a good position for accelerated growth in the years to come as we envision robust and stable international and domestic businesses in the long run,” he added.
Emperador owns Emperador Distillers, Inc., Scotch whisky maker Whyte and Mackay Group, and Bodegas Fundador in Spain.