EMPERADOR, Inc. posted a 4.7% increase in net profit attributable to 3.14 billion pesos in the second quarter, compared to 3 billion pesos a year earlier, after recording an increase in brandy sales while whiskey was the engine of its international activities.
“Our international business continued to perform well, driven by the single malt whiskey portfolio, which continues to be among the fastest growing single malts in the world,” the Chairman and Chief Executive Officer said on Wednesday. Emperador, Winston S. Co, in a press release.
The company’s second-quarter revenue rose to 15.72 billion pesos, up 18.6 percent from 13.25 billion pesos a year earlier.
In the first half, Emperador recorded a 3.03 percent increase in net profit to P5.3 billion from P5.08 billion last year.
Consolidated revenue during the semester reached 28 billion pesos, up 11% year-on-year as the company reported a 9.5% growth in brandy sales.
Similarly, Emperador’s international sales increased in the first half, recording 13% year-on-year growth.
Growth continued to be strong in Asia, Europe and North America, Co said, adding that overall the company expects “stronger” performance in the second half.
Emperador is reportedly exploring a joint venture in China to further strengthen its international business.
“Our focus on China is part of our internationalization strategy,” Mr. Co. said.
Emperador owns Fundador Spanish Brandy de Jerez and Whyte and Mackay, among others. Its brandy and whiskey products are available in over 100 countries. It is a publicly traded company on the Philippine Stock Exchange and the Singapore Stock Exchange.
On Wednesday, Emperador shares climbed 0.42% or P0.08 to P19.06 each. — Justine Irish D. Tabile