Emperador net income down in 9 months

MANILA, Philippines — Andrew Tan-led Emperador Inc. posted a 5.6 percent drop in earnings in the nine months to September despite generating higher revenue during the period.

Emperador recorded a net income of P6.78 billion during the three quarters, down from P7.19 billion booked in the same period last year.

The global whisky and brandy conglomerate, however, saw its revenues rise by 10 percent year-on-year to P47.1 billion as its international business continued to experience double-digit expansion.

The growth of its international business was driven by sustained sales of single malt whiskies across different markets across the globe, particularly in Asia and North America.

“The company continues to surge ahead in light of the challenging complexities in the world,” Emperador president Winston Co said.

“We have a compelling whisky portfolio driving the international business and a brandy segment driven by innovation and premiumization,” he said.

Co said that Emperador hopes to end the year with a strong performance overall.

Emperador is a global spirits conglomerate that owns an iconic brandy portfolio led by Spanish brandy Fundador and Emperador Brandy, the world’s largest-selling brandy by volume.

It also owns Whyte and Mackay, the world’s fifth largest Scotch whisky producer that owns a sublime and impressive single malt portfolio.

The company’s Tamnavulin Speyside Highland Single Malt is the world’s fastest growing single malt in the last five years.

Emperador said Tamnavulin Single Malt is now available in Asia – in China, Hong Kong, Japan, Korea, Singapore and the Philippines.