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Business

Emperador shares sizzle as H1 profit soars 53%

Ramon Royandoyan - Philstar.com
Emperador shares sizzle as H1 profit soars 53%
Emperador Inc. president Winston Co said the success of the company’s international expansion boosted earnings, bringing stability and growth.
Emperador / Released

MANILA, Philippines — Brandy giant Emperador Inc. saw profits soar in the first half, as easing global restrictions bolster alcohol consumption in all its markets.

The listed liquor unit of tycoon Andrew Tan reported to the stock exchange Thursday a net profit to owners amounting to P5.1 billion from January to June, jumping 53% year-on-year.

Meanwhile, six-month revenues across its global operations rose 18% on an annual basis to P25.3 billion. Emperador brandy and whisky products are available in more than 100 countries.

Investors were impressed. On Thursday, shares in Emperador rallied 7.54% to close at P13.70 apiece.

“The gradual easing of quarantine restrictions in various parts of the world has buoyed our first half business performance. On-sites have started to return,” Winston Co, company president, said.

“Both brandy and whisky segments showed increased margins and robust profitability given the benefits from improving product mix and positive operating efficiency,” he added.

The rosy figures show signs of recovery for the company following a bleak financial performance in 2020 that was marred by quarantine restrictions, disappearance of night out parties and, at home, a liquor ban.

“We see the brandy business led by Fundador growing by double digit in the UK, US, Canada, Spain, Mexico, Canada, and Asia, including the Philippines. The whisky business continues to pace strongly led by North America, Europe and Asia, led by China,” Co said.

EMPERADOR INC PHILIPPINE STOCK EXCHANGE
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