Emperor Inc., the country’s biggest liquor company, on Tuesday said its earnings last year grew by nearly 15 percent to P7 billion.
In a disclosure to the Philippine Stock Exchange, the Alliance Global Group subsidiary said its net income last year grew by 15 percent to P7 billion versus the P6.1 billion it realized from a year before.
Such net profits include the gains derived from its overseas operations, the company said.
For the period in review, Emperador’s revenues stood at P43.6 billion, higher by 26 percent from 2014’s P32 billion. During the fourth quarter, its net earnings amounted to P2.26 billion, 38 percent higher compared with the same period in 2014.
“The fourth quarter of 2015 also marked a significant milestone in Emperador’s history as an agreement with Beam Suntory Inc was reached to buy Fundador – Philippines’ best-selling premium brandy and an iconic brand for more than 150 years,” Andrew Tan, Emperador’s chairman said.
Tan said the purchase also included other Spanish assets like Terry Centenary, Spain’s number one selling brandy; Tres Cepas, the number one brandy in Equatorial Guinea; and Harveys, the number one selling sherry wine in the United Kingdom.
The turnover of the Spanish assets was held last month.
“This recent development truly marks an epoch in Emperador’s history. The long-term potential of our brandy business is more compelling than ever. We have become even more global,” Emperador’s president, Winston Co said.
The company said it is confident that its core local product, Emperador brandy, will benefit from its overseas venture given the export opportunities.
“Our core local product, Emperador brandy, remains to be the undisputed leader in the local liquor industry. We also now have a compelling presence in foreign liquor in the Philippines with our Fundador brandy and single malt whisky products, The Dalmore and Jura,” Co said.