Emperador Q1 profit up
Tycoon Andrew Tan-led liquor firm Emperador Inc. grew its first quarter net profit by 19 percent year-on-year to P1.7 billion on higher sales volume.
Consolidated revenues of the parent firm of Emperador Distillers Inc. (EDI) reached P7.7 billion or 17 percent higher than the level in the same period last year, Emperador said in a disclosure to the Philippine Stock Exchange on Friday.
EDI managed to sell more volume in the first quarter of this year nationwide, the disclosure said, without citing figures. In 2013, the group managed to sell 33 million cases nationwide.
“Emperador is best positioned to take advantage of the country’s robust economic growth and to continue dominating the liquor market. Strategic investments are in place to accelerate the growth momentum and expand its global footprint,” Emperador president Winston Co said in a statement.
Seven of 10 liquor bottles sold in Manila are Emperador brandy, making it the largest liquor company in the country.
Emperador, which has been acquiring assets in Spain since last year, has set a bold goal of controlling about a third of global market share in brandy in four years.
The company recently scaled up its offshore business by buying a 50-percent stake in integrated brandy producer Bodega Las Copas S.L., a unit of Spanish sherry bodega González Byass, for P3.7 billion.
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