MANILA, Philippines - Emperador Distillers Inc. (EDI), the wholly-owned liquor unit of Andrew Tan-led conglomerate Alliance Global Group Inc., said its net earnings hit a record P1.06 billion in nine months this year, already 86 percent higher than what it reported for the whole of 2009.
Winston Co, president of EDI, said 2010 is shaping up to be a banner year for the company in terms of revenue and income on the back of improving consumer confidence and spending as well as the hard liquor unit firm’s ability to innovate and control cost.
EDI, the country’s largest brandy manufacter with Emperador as its flagship brand, has zero bank debt.
Last year, the company launched its foray into the white spirit segment via the launch of its first flavored vodka and gin under the brand name The Bar.
Co said The Bar “has successfully penetrated all segments of the socio-economic market from A to D,” selling a total of 50 million bottles in the first 12 months since its launch.
“This wide market acceptance of The Bar is a first in Philippine liquor history,” he said.
Co said EDI would launch two more new beverages within the last quarter of the year to further strengthen its foothold in the industry.
“The two new products are the result of a long, careful market study and research that EDI has undertaken, and they represent the latest innovations that we are bringing into the mainstream of the liquor industry. I promise you that the new drinks will be very, very exciting. We expect them to create a new demand and generate additional revenue for EDI in the coming years,” Co pointed out.