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Emperador profits rise as overseas sales surge

Emperador Inc., the world’s largest brandy company, posted an 11 percent growth in its net income to P5.9 billion during the first nine months of the year due to international sales of its brandy and whisky products.

In a disclosure to the Philippine Stock Exchange, the firm said that it achieved 26 percent record growth in earnings to P2.5 billion in the third quarter alone, as overseas demand for its products surged amid the global pandemic.

“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 president Winston Co.

He added that, “Emperador’s global business saw double-digit growth as it adapted well to new consumption trends.”

Fundador, Tres Cepas, and Emperador brands have been growing consistently, particularly in the United States, Canada, Italy, Spain, United Kingdom and Greater China.

In Spain, brands owned and produced under Grupo Emperador España S.A. continue to dominate the brandy market with 40 percent market share.

Around the world, Fundador has been particularly showing spectacular performance even in North America. In the United States alone, Fundador achieved 23 percent growth during the first nine months of the year.

In Canada, sales have also tripled during the first nine months as Fundador Light has been made available in Alberta, Canada as a new expression this year. The new Fundador Double Light was also rolled out across the US.

Meanwhile, in the United Kingdom, Fundador grew 185 percent during the first nine months, while in Italy, it recorded 15 percent growth during the same period. Mexico’s brandy performance, on the other hand, achieved 8 percent growth during this period.

Emperador International chief executive officer Glenn Manlapaz said, “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.” He added that, “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.”

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Credit belongs to : www.mb.com.ph

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