Emperador Inc., the global liquor firm of tycoon Andrew Tan, reported a 3 percent improvement in net income to P5.3 billion in the first semester on the back of a 7 percent growth in second quarter profit to P3.2 billion.
In a disclosure to the Philippine Stock Exchange, the firm said consolidated revenues went up 11 percent year-on-year to P28 billion in the first six months of 2022 as second quarter revenues rose 18 percent to P15.7 billion.
Emperador said its brandy sales grew 9.5 percent in the first half of the year while international sales, mostly driven by its whisky segment, grew 13 percent duing the period.
“After back-to-back banner performances in 2020 and 2021, our company continues to deliver growth despite supply chain challenges and increase in input costs,” Emperador Inc. President Winston Co said.
He added that, “Our international business continued to perform well led by the single malt whisky portfolio, which continues to be amongst the fastest growing single malts in the world. Growth continued to be strong in Asia, Europe, and North America.”
“Overall, we are looking forward to stronger second half performance. Meanwhile, to further strengthen our international business, we are exploring a joint venture in China. Our focus on China is part of our internationalization strategy,” Co noted.
Emperador owns the multi-awarded Fundador Spanish Brandy de Jerez and it also owns Whyte and Mackay, the world’s fifth largest Scotch whisky producer. The firm’s brandy and whisky products are available in more than 100 countries.