Emperador Inc., the listed liquor company controlled by businessman Andrew Tan, posted a net income of P5.1 billion in the first half on the back of double-digit growth in revenues.
Emperador said in a disclosure to the stock exchange first-half revenues increased 18 percent to P25.3 billion, led by strong sales from international markets.
Emperador president and chief executive Winston Co attributed the strong first-half performance to the gradual easing of quarantine restrictions in various parts of the world that boosted on-site sales.
“We are extremely happy to report a record first-half net profit of P5.1 billion. Both 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.
Co said the company’s brandy business led by Fundador was expected to continue to grow by double digits in the UK, the US, Canada, Spain, Mexico, Canada, and Asia, including the Philippines.