Tycoon Andrew Tan’s liquor conglomerate Emperador Inc. saw earnings trend higher in the first half of the year on improving business prospects.
Net profit rose 19 percent to P2.1 billion in the second quarter compared to the first quarter while revenues increased 18.3 percent to P15.5 billion, the company said in a stock exchange filing on Tuesday.
This brought first semester profit and revenues to P3.8 billion and P28.6 billion, respectively.
“There are signs that consumer confidence is returning globally evidenced by higher revenues versus the previous quarter amidst challenges of high interest rates, inflation, and geopolitical uncertainty,” Emperador noted in the filing.
“Emperador’s business remains resilient due to its diversified portfolio in whisky and brandy, which covers numerous price points, and its wide distribution, which includes over 100 markets,” it added.
Emperador’s brands include Emperador Brandy, Fundador Brandy, The Dalmore, Fettercairn, Jura, and Tamnavulin Single Malt Scotch whiskies. It highlighted improving sales across markets in Asia, Europe, and Latin America.
“The fundamentals of the company are intact and long-term trajectory is still on track,” Emperador president Winston Co said.
“Once global economies improve and consumer demand for premium and luxury products returns, our performance will see new heights,” he added.
