Emperador posts P5.1B net income in H1, up 53%

Andrew Tan-led distilled spirits maker Emperador Inc. saw a 53% growth in its bottomline to P5.1 billion in the first half of 2021 on the back of easing of COVID-19-related restrictions.

In a disclosure to the Philippine Stock Exchange on Thursday, Emperador reported a first semester revenue of P25.3 billion, up 18% year-on-year.

“The gradual easing of quarantine restrictions in various parts of the world has buoyed our first half business performance. On-sites have started to return,” said Emperador Inc. president Winston Co.

“We see the brandy business led by Fundador growing by double digit in the UK, US, Canada, Spain, Mexico, Canada, and Asia, including the Philippines.  The whisky business continues to pace strongly led by North America, Europe and Asia, led by China,” Co said.

He said that the company’s brandy and whisky segments showed increased margins and robust profitability given the benefits from improving product mix and positive operating efficiency. 

“We hope global economies continue to rebound and return to some form of normalcy,” Co said.

Emperador owns Fundador Spanish Brandy de Jerez, having recently won the highest Platinum Award bestowed by the San Francisco World Spirits Competition, particularly for Fundador Supremo 18.

It also owns Whyte & Mackay, the world’s fifth largest Scotch whisky producer, which was recently recognized as “Distiller of the Year” at the Icons of Whisky Scotland 2021.

Emperador said its brandy and whisky products are available in more than 100 countries. —KBK, GMA News