Emperador net income up 5% to P7B in 2019

Published May 27, 2020 08:12 PM By TED CORDERO, GMA News

Andrew Tan-led brandy maker Emperador Inc. saw a single-digit increase in its bottom line in 2019.

In an e-mailed statement, Emperador said its recurring net profit stood at P7 billion, up 5% from P6.8 billion year-on-year.

The company also recorded a record revenue of P51.6 billion, up 10% from a year earlier.

Emperador, the world’s largest brandy company owns the iconic Emperador Brandy and Fundador Spanish Brandy de Jerez.

“Last year’s stellar performance is a continued testament to our premiumization and globalization strategy for our renowned brandy and whisky products ranging from mainstream to luxury sold in over 100 countries,” Emperador president Winston Co said.

For local brandy, Co said, “Emperador brandy remained at the helm of local liquor across the country particularly in key metro cities, while we strategically engaged in product innovations in response to the ever-changing consumer taste and preference.”

Meanwhile, the company recently announced the extension of its share buyback that began in May 2017 for another 12 months ending on May 16, 2021.

To date, roughly 322 million shares have been bought back, amounting to around P2.2 billion, the company said. -MDM, GMA News

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