Emperador posts P1.4-B profit in Q1

Tycoon Andrew Tan-led beverage-maker Emperador Inc. reported a net profit of P1.4 billion in the first quarter, about the same as the level recorded in the same period last year.

Emperador, the world’s largest brandy company, recorded nearly P9 billion in consolidated revenues in the first quarter versus P8.89 billion in the same quarter last year, based on a press statement issued on Tuesday.

No other details were available as of press time.

The first quarter of this year also marked a significant milestone for the group, with Emperador taking over 286-year old Bodegas Fundador from Beam Suntory.

The combined production facilities of Emperador and Fundador make Emperador the largest brandy entity in the world.

Emperador president Winston Co said: “We have an unprecedented and compelling ownership of vineyards, bottling facilities and distilleries. We already have 1,500 hectares of vineyard land, roughly 1,000,000 square meters of cellar and bottling facilities, and three distilleries in Spain.”

In 2014, the acquisition of Scotch whisky company Whyte and Mackay jumpstarted Emperador Inc.’s transformation into becoming a world-class company, Co added.

Emperador Inc. is majority-owned by Alliance Global Group Inc.