MANILA -- The world's largest brandy company, Emperador Inc, said Thursday net income in the January to June period rose 18 percent, as international sales offset a "soft" domestic market.
The maker of Emperador Brandy, Fundador and scotch whisky brands Dalmore and Jura said net income in the first half reached P19.5 billion. It did not immediately disclose second quarter results.
Revenues in the first 6 months of the year grew 7 percent. Margins were "higher," Emperador said in a statement without elaborating.
"The strong performance comes from the strong growth of the international business amidst a soft domestic market," said Emperador president Winston Co.
The company is in a "good position for accelerated growth" and both its domestic and international operations are expected to be "robust and stable," Co said.
Emperador shares were up 0.41 percent at noon Thursday, compared to a 0.87 percent decline in the main index.