Emperador Inc., the liquor unit of business tycoon Andrew Tan, reported P4.6 billion in net income for the first nine months, or 2.2 percent better than last year’s P4.5 billion earnings.
In the same period, Emperador said revenues decreased 23 percent to P20 billion from 2013’s P20.6 billion.
For the third quarter alone, Emperador’s net income jumped 15 percent to P1.5 billion from last year’s. This translates to 12 percent increase from the previous quarter.
“Our gross profit rose to P2.6 billion during the third quarter, that is 13 percent better compared to the third quarter of last year,” said Dina Inting, Emperador chief finance officer.
Emperador said the third quarter earnings was driven by the company’s stronger volume production and higher margins.
Winston Co, Emperador president, said that the company is set to fuel exports in Europe and Africa and expand its investments in Spain starting in first quarter next year.
“We are excited about the export potential especially in Europe and Africa, which may commence in the first quarter of 2015. Meanwhile, our investment in Spain, which includes vineyards and brandy production facilities, is going to help us achieve better cost efficiency,” Co said.
Emperador fully owns Emperador Distillers Inc. (EDI), which is the liquor vehicle of the Tan Group of Companies. EDI and all its subsidiaries manufacture, distribute and serve as bottlers of brandy and other alcoholic brands such as Emperador, Generoso, The BaR, Emperador Deluxe and Emperador Light. It also distributes potato snack products under the Pik-Nik brand.
Emperador is 87.55-percent owned by Tan’s holding firm Alliance Global Group Inc. (AGI). AGI also has interests in property development (Megaworld Corp.); quick-service restaurants via McDonald’s franchise (Golden Arches Development Corp.); and integrated tourism development businesses via Resorts World Manila and Resorts World Bayshore (Travellers International Hotel Group Inc.). Kristyn Nika M. Lazo