Globalizing liquor-maker Emperador Inc. posted a 4.7 percent year-on-year growth in nine-month net profit to P4.9 billion as higher margins from cost efficiency measures made up for the slack in revenues.
Revenues fell by 4.2 percent year-on-year to P27.9 billion during the nine-month period, attributed to the termination of distribution of an agency brand from the Scotch whisky business last yearend, Emperador said in a regulatory filing on Thursday.
“Higher margins have enabled us to sustain a high level of profitability that’s underpinned by our brandy and whisky products. We have a compellingly diversified product portfolio that encompasses both domestic and foreign markets,” Emperador president Winston Co said in a press statement.
Emperador’s net margin improved to 4.7 percent in the nine-month period from 3 percent in the same period last year, based on a regulatory filing on Thursday.
“We expect better sales in the last quarter of this year compared to previous quarters on the back of increased consumer spending resulting from the holiday season. With an unrivalled portfolio of quality brandy and whisky products – both local and foreign brands – we are best positioned in the market to benefit from this increased consumer spending,” he added.
Emperador, the liquor arm of tycoon Andrew Tan, is now the world’s largest brandy company and owner of Scotch whisky brands of Whyte and Mackay as well as some Spanish brandy and sherry brands led by the iconic Fundador. The company reported that Scotch whisky labels, led by Dalmore and Jura, were driving offshore growth particularly in USA, Latin America, Asia and Europe.