Emperador profit up 18%
Emperador Inc., the liquor giant controlled by taipan Andrew Tan, said profit in the first half of 2018 surged higher, led by its international business.
The company, which makes Emperador brandy and a growing list of foreign names, said in a statement that its net income from January to June this year jumped 18 percent to P3.2 billion.
Revenue in the same period was up 8 percent to P19.5 billion.
Its second quarter profit was up 34 percent to P1.6 billion, aided by a 7-percent increase in revenue.
Emperador, which has yet to disclose its quarterly report for the period, noted that “margins were higher during the periods in review.”
“The strong performance comes from strong growth of the international business amid a soft domestic market,” Emperador president Winston Co said in a statement.
He was referring, in part, to the company’s overseas acquisitions such as Scotch whisky maker Whyte and Mackay Group and Spain’s Bodegas Fundador. Emperador, through a unit, also acquired Domecq brandies and wines of Paris-based Pernod Ricard in Mexico.
He said certain initiatives, which were not described, would be implemented to boost sales in the Philippines.
Emperador is part of Tan’s Alliance Globe Group Inc., whose investment portfolio includes property development, gaming and fast-food operations.
