Emperador/Fundador profit up 5% in 2019
BRANDY company Emperador, Inc. booked a 5% growth in earnings for 2019, driven by its expansion outside the Philippines.
In a statement Wednesday, the listed manufacturer of brandy and whisky products reported a recurring net profit of P7 billion last year, lifted by a 10% increase in revenues to P51.6 billion.
It said its Scotch whiskey segment has grown in major regions around the world, with Asia being the leader and Europe and North America showing strong support.
The brandy segment, both international and local, continued to gain market support from the company’s efforts to improve its quality.
“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,” Emperador President and Chief Executive Officer Winston S. Co was quoted in the statement as saying.
Emperador said the brandy business in particular has received 27 awards led by Fundador Supremo 18 and Bodegas Fundador. Fundador Brandy has expanded last year in Asia and the United Kingdom.
In the Philippines, Mr. Co said Emperador brandy was “at the helm of local liquor,” especially in key metropolitan cities.
“[W]e strategically engaged in product innovations in response to the ever-changing consumer taste and preference,” he said.
Emperador is the Philippines-listed owner of Emperador Distillers, Inc.; Scotch whisky maker Whyte and Mackay Group; and Spain-based Bodegas Fundador.
The company is currently doing a buyback of its shares which started in May 2017 and will last until May 2021. It has already bought back some 322 million shares worth P2.2 billion.
Shares in Emperador at the stock exchange picked up two centavos or 0.26% to close at P7.70 each on Wednesday. — Denise A. Valdez
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