LISTED liquor maker Emperador Inc. posted an 11 percent increase in net income to P7.7 billion last year from P7 billion in 2015 on higher margins from its brandy and whisky products.
In a statement on Monday, the company said sales of its brandy and whiskey labels brought consolidated revenues to P41 billion, slightly lower than the P43.6 billion recorded in 2015.
However, Emperador said margins were higher last year compared to 2015 due to cost-efficiency initiatives that enabled the group to record higher earnings.
“Driven by high-margin brandy and whisky products, we have been able to sustain our earnings growth. Our earnings growth per annum from 2011 to 2016 is 27 percent,” Emperador President Winston Co said.
“We also managed to realize our highest quarterly earnings in the fourth quarter of 2016, amounting to almost P2.8 billion and reflecting an increase of 23 percent over the fourth quarter of 2015,” he added.
Emperador is now the world’s largest brandy company after acquiring Spanish brandy maker Bodegas Fundador and scotch whiskey maker Whyte & Mackay via subsidiary Emperador Distillers Inc., among other acquisitions.
In December last year, the company appointed Irvine, California-based G.K. Skaggs to import and market Emperador Brandy and Emperador Light products in major US markets starting first quarter of 2017.
“With market penetration in 51 countries today, Emperador Brandy has evolved into a global brand. We believe that our export business will grow over time. And with the acquisition of Fundador last year, our brandy business is stronger than ever before,” Co said.
Emperador is a listed spirits manufacturer owned by businessman Andrew Tan under conglomerate Alliance Global Group Inc.