Emperador says 9-month income up as pandemic spikes global sales of liquor

ABS-CBN News

Posted at Oct 26 2020 02:13 PM

Emperador and Fundador brandy aged in sherry casks in Spain. Handout

MANILA - Andrew Tan's Emperador Inc on Monday reported a net income of P5.9 billion in the first 9 months of the year, 11 percent higher on year as international sales of its brandy and whisky products in various markets around the world boosted earnings.

Emperador, which makes the Emperador Brandy and Fundador Spanish Brandy de Jerez, said that during the third quarter alone, the company achieved 26 percent record growth in earnings to P2.5-billion, as overseas demand for its products surged amid the global pandemic.

“The success of our international expansion boosted company earnings, bringing stability and growth at a time when the Philippines wrestles with the impact of the coronavirus,” said Emperador president Winston Co. 

The company said its Fundador, Tres Cepas, and Emperador brands have been growing consistently, particularly in the United States, Canada, Italy, Spain, United Kingdom and Greater China. 

“The highest international growth comes from China, which is expected to more than double from last year, which will be driven by the premium single malt brands and brandy,” said Emperador International CEO Glenn Manlapaz. 

Emperador shares were up 0.2 percent at the close of Monday’s trading.