MANILA - Higher disposable incomes due to the middle class after the government reduced income taxes helped Emperador grow sales by 8.5 percent in the first 3 months of the year, a company official said Monday.
Further increases on excise duties however may be worrisome, said Kevin Tan, executive director of Alliance Global which includes Emperador.
The company is not looking at acquisitions this year after, said Emperador president Winston Co.
Emperador, the world's largest brandy company, has enough foreign currency to finance debt and interest rates on borrowings are locked for the long term, he said.
Alliance Global's Infracorp hopes to begin construction of a monorail from the Guadalupe MRT station area to Fort Bonifacio within the year, he said.