Emperador Inc., the liquor unit of tycoon Andrew Tan, said net income rose 12.2 percent in 2015 to P7 billion from P6.2 billion in 2014 on aggressive offshore investments.
Emperador said in a disclosure to the stock exchange revenues climbed 36.4 percent to P43.5 billion in 2015, including those of foreign operations such as unit Whyte and Mackay.
The years 2013 to 2015 saw the offshore growth of Emperador business, the company said.
The group acquired Bodegas Las Copas and Bodega San Bruno in Spain in February 2014 and early 2013, respectively, and Whyte and Mackay of the UK in October 2014.
It signed a deal to acquire Terry Centenario, Spain’s number one selling brandy; Tres Cepas, the number one brandy in Equatorial Guinea; and Harveys, the number one selling sherry wine in the United Kingdom in November 2015. It took over the Spanish assets in March.
The liquor firm said it posted the highest quarterly net income in the fourth quarter of 2015, with P2.26 billion, up 38 percent year-on-year and 56 percent quarter-on-quarter.
Emperador chairman Andrew Tan said the fourth quarter of 2015 also marked a significant milestone in Emperador’s history as an agreement with Beam Suntory Inc. was reached to buy Fundador, the Philippines’ best-selling premium brandy and an iconic brand for more than 150 years.
Emperador president Winston Co said after making significant acquisitions, a new era began for Emperador in 2016, as it now had a much bigger product portfolio of brandy and whisky with greater global reach.
Co said the core local product, Emperador brandy, was expected to benefit from this international route, given the export opportunities in other countries.
“The group is best positioned to capitalize on premiumization opportunities with its broad spectrum of products available locally ranging from standard value to premium to super premium to luxury. Emperador brandy remains to be the leader in the local spirits industry,” Co said.
“And the group has a compelling presence in foreign brands in the Philippines with the single malt Scotch whisky products, The Dalmore and Jura, and now the Fundador brandy de Jerez,” Co said.