Emperador profit jumps 35% from January to September

MANILA, Philippines — Emperador Inc., the Andrew Tan-led brandy company, reported a net income of P7.9 billion in the nine months to September, up 35 percent as revenue rose 11 percent to P38.4 billion.

Company president Winston Co said the net income reported during the period already matched 2020’s full-year earnings of P8 billion despite the challenges brought about by the pandemic.

“We are extremely delighted with our performance in spite of challenges in global logistics as well as the hard lockdown in the Philippines in the third quarter of 2021. Our highly seasoned management team has brilliantly delivered stellar quarter on quarter results through these extraordinary times,” Co said.

He said the company is likely to finish strong this year.

“We are confident that 2021 will be another banner year for Emperador. As economies open up, we look forward to an even better 2022,” Co said.

Fundador’s international brandy business is present in the UK, US, Canada, Spain, Mexico, Canada and Asia.

The whisky business also continues to pace strongly in North America, Europe as well as Asia, which is led by China.

Emperador is a brandy and whisky conglomerate that is listed on the Philippine Stock Exchange with a market value of $5.7 billion.

It owns Fundador – Spain’s oldest and largest brandy and sherry maker with 300 years of brandy heritage. It also owns Whyte & Mackay – the fifth largest whisky manufacturer globally with 175 years of whisky heritage.

Emperador has a compelling product presence in at least 100 countries across six continents.