MANILA, Philippines — Emperador Inc. the Andrew Tan-owned brandy company, posted a recurring net profit of P7 billion last year, up five percent.
Revenue rose 10 percent to P51.65 billion.
Emperador Inc. president Winston Co said 2019 was another excellent year for the Scotch whisky segment with the business growing in every major region of the world.
Across the globe, Asia remained a strong driver of growth supported by great results across Europe and North America, Co said.
“Last year’s stellar performance is a continued testament to our premiumization and globalization strategy for our renowned brandy and whisky products ranging from mainstream to luxury sold in over 100 countries,” he said.
In the local market, Co said “Emperador brandy remained at the helm of local liquor across the country particularly in key metro cities, while we strategically engaged in product innovations in response to the ever-changing consumer taste and preference.”
Given its strong performance, Emperador extended its share buyback for another 12 months or until May 2021.
Emperador owns Emperador Distillers, Inc., Scotch whisky maker Whyte and Mackay Group, and Bodegas Fundador in Spain.
While the company performed well in 2019, Emperador was not spared from the negative impact of the coronavirus disease 2019 or COVID-19 pandemic.
Its Bodegas Fundador in Spain has stopped accepting guests and tourists at its visitors’ centre in Jerez de la Frontera for the first time since it opened to the public in 200 years.
Spain has the second largest number of COVID-19 cases in Europe, with over 6,000 people infected by the virus.