Emperador Q1 profit up 124% to P1.03B
Philippine Daily Inquirer
Emperador Distillers Inc., the beverage arm of tycoon Andrew Tan, grew its net profit in the first three months by 124 percent to P1.03 billion compared to year-ago level.
“The growth can be attributed to higher consumer spending coupled with the increased patronage of our products,” EDI president Winston Co said in a statement.
EDI, a subsidiary of Tan’s Alliance Global Group Inc., claims to be the leading Philippine liquor firm in terms of sales volume and the largest-selling brandy brand in the world also in terms of volume.
The surge in first-quarter profit was supported by a 64-percent rise in revenue to P5.5 billion.
EDI is looking at another record year in terms of sales revenue and net income for 2012.
“With the recent acquisition of Diageo Philippines’ Sta. Rosa facilities, we will continue to boost our competitiveness and promote Emperador as a strong global brand,” said Co.
Diageo produces global liquor brands such as Johnnie Walker, Crown Royal, JeB, Buchanan’s, Windsor and Bushmills whiskies, Smirnoff, Cîroc and Ketel One vodkas, Baileys, Captain Morgan, Jose Cuervo, Tanqueray and Guinness.
The acquisition of the Sta. Rosa facilities was expected to help increase EDI’s production and technical capabilities, and boost its global competitiveness. It is seen to jack up the total bottling output of EDI by 20 percent and allow EDI to produce carbonated ready-to-drink products.
EDI manufactures brandy under the Emperador and Generoso labels.—Doris C. Dumlao
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Tags: alcohol , Beverage , Earnings , Emperador Distillers , liquor , net profit
