MANILA, Philippines — Emperador Inc., the brandy company owned by tycoon Andrew Tan, grew its first half net income by 18 percent to P3.2 billion.
In the second quarter alone, earnings jumped 34 percent to P1.6 billion.
Emperador owns Emperador Distillers Inc., Scotch whisky maker Whyte and Mackay Group and Bodegas Fundador in Spain. It owns the iconic Fundador and Scotch whisky brands led by The Dalmore and Jura single malts.
The company reported that Emperador grew its revenues by eight percent to P19.5 billion with second quarter revenues rising by seven percent.
Emperador president Winston Co said strong business abroad boosted growth.
“The strong performance comes from the strong growth of the international business amidst a soft domestic market. The premium Spanish brandy and Scotch whisky business continues to show robust growth led by Fundador brandy, The Dalmore and Jura single malt whiskies led by Asia and North America,” Co said.
“The local market continues to be soft, but new market initiatives for growth are under way,” he said.
Co said Emperador is in a good position for accelerated growth in the years to come as the company envisions robust and stable international and domestic businesses in the long run.
Through its Spanish subsidiary Bodegas Las Copas, Emperador purchased the Domecq brandies and wines of Pernod Ricard in Mexico as well as Mexican brandy brands Presidente, known to be Mexico’s number one selling brandy, Azteca de Oro and Don Pedro.
In 2016, Emperador completed the purchase of Beam Spain’ four iconic brands – Fundador, the oldest and largest Spanish brandy in the world; Terry Centenario, the number one brandy in Spain; Tres Cepas, the largest selling brandy in Equatorial Guinea; and Harveys, the number one selling sherry wine in the world.
In 2014, Emperador bought Whyte and Mackay, which jumpstarted the company’s global expansion.
Whyte & Mackay is the fifth largest Scotch whisky manufacturer in the United Kingdom that is behind the brands The Dalmore, Jura Single Malt Whisky, Mackinlay’s Shackleton Malt Whisky, Whyte & Mackay Scotch Whisky, Vladivar Vodka, among others.