International sales push Emperador profit up by 26%
Tycoon Andrew Tan-led liquor-maker Emperador Inc. booked a 26-percent year-on-year expansion in third quarter net profit to P2.5 billion, the fastest pace of growth seen by the multinational company on the back of robust overseas sales.
This brought Emperador’s net profit for the January to September period to P5.9 billion, 11-percent higher year-on-year despite the COVID-19 pandemic, the company disclosed to the Philippine Stock Exchange on Monday.
International sales of its brandy and whisky products in various markets around the world boosted its bottom line, Emperador said.
“The success of our international expansion boosted company earnings, bringing stability and growth at a time when the Philippines wrestles with the impact of the coronavirus. Emperador’s global business saw double-digit growth as it adapted well to new consumption trends,” Emperador president Winston Co said.
The company reported that Fundador, Tres Cepas and Emperador brands were growing consistently, particularly in the United States, Canada, Italy, Spain, United Kingdom and Greater China.
In Spain, brands owned and produced under Grupo Emperador España S.A. continued to dominate the brandy market with a 40-percent market share, Emperador added.
Fundador has shown “spectacular” performance even in North America, the disclosure said.
In the United States alone, Fundador achieved a 23-percent year-on-year growth at end-September. In Canada, sales tripled in the same period as Fundador Light has been made available in Alberta, Canada. —DORIS DUMLAO-ABADILLA INQ
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