Tycoon Andrew Tan takes over the iconic Fundador brand
Global liquor-maker Emperador Inc. saw a 20.6-percent year-on-year drop in first semester net profit to P2.7 billion due to a slowdown in revenues from the domestic liquor business.
Emperador reported P18.1 billion in revenues in the first six months, down by 1.4 percent from the revenues booked in the same period last year when consumer spending got an extra boost from the presidential election season.
“Domestic liquor consumption was softer in the first six months of this year, but we are hopeful for a better performance in the next six months,” Emperador Inc. President Winston Co said in a press statement on Wednesday.
“We believe the domestic market is going through a transition that offers many interesting opportunities. Meanwhile, we are very keen to bring new excitement and drinking
experience to the consumers. For the first half of this year, the company has committed much
resources to bring new exciting products to market both in the Philippines and abroad,” Co added.
Emperador, which has a market value of about P122 billion, manufactures, bottles and distributes distilled spirits and alcoholic beverages in the Philippines and in Europe. It sells a wide variety of products through its subsidiaries with an international reach of over 100 countries.
The company made its mark through Emperador Distillers Inc. in the Philippines, through Whyte and Mackay Group Ltd. in the United Kingdom, and through Bodegas Fundador S.L.U. in Spain. It is part of tycoon Andrew Tan-led conglomerate Alliance Global Group Inc. Now the world’s largest brandy company, Emperador owns Spanish brandy and sherry brands led by the iconic Fundador as well as Scotch whisky brands led by The Dalmore and Jura.