Emperador Inc., a leading global brandy and whisky conglomerate, reported an attributable net income of P7.2 billion for the first nine months of 2022—almost flat compared to the P7.3 billion earned in the same period last year.

In a disclosure to the Philippine Stock Exchange, the firm said its revenues increased 11 percent year-on-year to P42.6 billion driven by both its whisky and brandy segments.

The whisky segment grew by 16 percent, driven by the single malts across almost all regions around the world and the return of travel retail.

The brandy segment improved by 8 percent as it sustained year-on-year topline growth in its key markets in the Philippines, Spain, Mexico and North America.

Emperador said rising inflation has impacted both its whisky and brandy segments.

The resulting higher input costs coupled with higher logistics costs, advertising and promotional expenses and increased on-trade activities have a greater impact on the operating margins of the brandy segment that sells at more accessible prices compared to whisky.

“Our global business remains robust in the first nine months of this year as evidenced by the overall topline growth, but rising inflation limited earnings performance,” said Emperador Inc. President Winston Co.

He added that, “There is so much volatility in the global market. We are glad to deliver sustained earnings through our wide portfolio of brands.”

Emperador Inc. is a global spirits conglomerate that owns Emperador Brandy, the world’s best-selling brandy, and Whyte and Mackay, the world’s fifth largest Scotch whisky producer.

The firm’s portfolio of iconic brands includes Fundador Brandy, The Dalmore, Jura, and Tamnavulin Single Malt Scotch whiskies. The products are available in more than 100 countries across the globe.