Emperador Inc., controlled by tycoon Andrew Tan and a leading global whisky and brandy conglomerate, reported that its recurring attributable profit was relatively flat at P4.7 billion in the first half of 2023 from P4.8 billion in the same period last year.

In a disclosure to the Philippine Stock Exchange, the firm said recurring earnings dipped despite seeing revenues increase by 11 percent year-on-year to P31 billion in the first half of 2023. It did not report its net income.

“Our international business is constantly showing stellar performance driven by the single malt whisky portfolio, which continues to be amongst the fastest growing single malts in the world,” said Emperador President Winston Co. 

He added that, “while the brandy segment is facing some headwinds, reinvigorating efforts are in place to ensure long-term growth. After posting banner performances for three consecutive years in 2020, 2021 and 2022, our company believes that 2023 will continue to be a better year.”

The global whisky segment of Emperador continued to show a stellar performance while the brandy segment managed to show some growth despite facing inflationary headwinds. 

The whisky segment’s growth was driven by Emperador’s compelling whisky portfolio, which continued to grow at double-digit rates in the first six months of 2023. The key markets that saw strong double-digit growth rates were Asia and USA.

Meanwhile, expansion of the whisky maturation complex at Invergordon Distillery in Scotland is underway, doubling its footprint from 45.4 hectares to 92 hectares. 

This will create the space for additional warehouses to be built over the coming decades, eventually housing more maturing whiskies, in support of the long-term growth ambition for Emperador’s global whisky business.

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

The firm also owns Whyte and Mackay, the world’s fifth largest Scotch whisky producer that owns a compelling single malt portfolio. The company’s Tamnavulin Speyside Highland Single Malt is the fastest growing single malt in the world in 2021. 

Emperador products are available in over 100 countries across six continents.