Tycoon Andrew Tan-led Emperador Inc. grew its net profit last year by 11 percent to P7.7 billion, mostly achieved by unlocking higher margins from its global liquor business.
Emperador – 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 – said the increase in earnings was eked out due to higher margins in turn resulting from cost efficiency.
In a disclosure to the Philippine Stock Exchange on Monday, Emperador reported consolidated revenues of P41 billion, down by 6 percent from the previous year.
“Driven by high-margin brandy and whisky products, we have been able to sustain our earnings growth. Our earnings growth per annum from 2011 to 2016 is 27 percent,” said Emperador president Winston Co.
“We also managed to realize our highest quarterly earnings in the fourth quarter of 2016, amounting to almost P2.8 billion and reflecting an increase of 23 percent over the fourth quarter of 2015,” he said.