Overseas demand drives Emperador earnings up 26% in Q3

Emperador Inc. posted a 26% growth in its earnings during the third quarter of the year, driven by overseas demand for its products during the period, mainly from China.

In an emailed statement, the company said its earnings rose to P2.5 billion in July to September to bring its year-to-date net income up 11% to P5.9 billion for the first nine months.

Emperador has yet to file its comprehensive third-quarter financial report to the local bourse.

"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," said Emperador Inc. president Winston Co.

Emperador's acquisitions and partnerships include global manufacturers across the globe — UK-based Whyte and Mackay Group, Spain's Bodegas Fundador S.L.U, and Domecq Bodega Las Copas SL.

The brands it carriers are Emperador Brandy; Emperador Light; Emperador Deluxe Spanish Edition; Emperador Solera Brandy; Andy Player Whisky; The BaR; Smirnoff Mule; Raffa Sparkling; The Dalmore Single Highland Malt Scotch Whisky; Jura Single Malt Scotch Whisky; Tamnavulin Single Malt Scotch Whisky; Fettercairn; Whyte & Mackay Blended Scotch Whisky; Vladivar Vodka; Glayva; John Barr; Cluny; Claymore; Fundador; Terry Centenario; Tres Cepas; and Harveys.

"We are glad that the company was able to deliver solid performance in the first nine months of 2020 on the strength of its international business that we have developed in the past five years," said Emperador International chief executive officer Glenn Manlapaz.

"The highest international growth comes from China, which is expected to more than double from last year, which will be driven by the premium single malt brands and brandy. We are confident that this will pave the way for further growth in the future for Emperador," he added. — Jon Viktor D. Cabuenas/RSJ, GMA News