Emperador profit up 8% to P6.8B

Emperador Inc. reported an 8-percent growth in net profit last year to P6.8 billion as  revenue reached unprecedented levels.

Emperador—the world’s largest brandy company that owns Emperador Brandy, Fundador Brandy and the luxury single malt Scotch whisky, The Dalmore—grew revenue last year by 10 percent to P47 billion.

In a disclosure to the Philippine Stock Exchange, Emperador president Winston Co said: “Our renowned brandy and whisky products sold all over the world are the catalysts for continued growth and long-term shareholder value enhancement. Internationalization and `premiumization’ will be the new frontier of growth moving forward.”

Emperador said 2018 was an “exceptional” year for Scottish unit Whyte and Mackay with business growing in every region of the world. Asia was cited as a strong market, with revenue more than doubling.

The Dalmore, Whyte and Mackay’s flagship single malt whisky product remained a major growth driver as it continued to attract new consumers.

The foreign brandy unit, led by Fundador, raked in awards and brand recognition in international competitions, the disclosure said. Fundador and Terry brandies won 10 gold medals, culminating in Fundador Supremo 18 YO being awarded as the “Best Grape Brandy” at the 2018 Hong Kong International Wine & Spirit Competition.

For local brandies, Co said: “Emperador brandy continues to lead the domestic market. New programs are being initiated to capture the growing middle-class consumers.”

Meanwhile, the company has an ongoing program to buy back shares worth up to P5 billion over a 24-month period that began in May 2017. To date, roughly 259 million shares amounting to around P1.86 billion have been bought back.