TYCOON Andrew Tan-led Emperador Inc., a leading liquor firm, grew its net profit last year by 5 percent to P6.1 billion on the back of robust consumer spending in the country.
Last year’s performance was driven by a 7 percent growth in consolidated revenues to P32 billion, Emperador disclosed to the Philippine Stock Exchange on Thursday.
“We have successfully transformed Emperador into a global company after our acquisition of Whyte and Mackay in the United Kingdom and various vineyard and brandy production facilities in Spain,” said Tan, the company chair.
“We see 2015 as the beginning of the rapid expansion of our businesses, both in the domestic and global markets. This year, we expect our revenues to grow by 35 percent,” he added.
Last year, Emperador outbid a number of global consumer powerhouses—like French luxury goods conglomerate LVMH Moet Hennessy Louis Vuitton SA, American liquor-maker Brown-Forman (makers of Jack Daniel’s whisky), Gruppo Campari of Italy and Russian billionaire Roustam Tariko, producer of Russian Standard vodka—to bag such deal to take over iconic Scottish whiskey maker Whyte & Mackay.
Emperador president Winston Co said: “We will be launching eight major liquor products in the Philippines to cover all segments and categories in the market. This 2015 will be the busiest and most exciting year for the company.”
The company ended 2014 with net cash position of P4.85 billion.
“In spite of spending close to P35 billion overseas last year, we will be debt-free in a few months because we intend to pre-pay our loan using the huge cash pile that is now sitting in our balance sheet. This gives us a lot of room for more acquisitions and expansion activities when opportunities arise in the domestic and global markets,” Emperador chief finance officer Dina Inting said.