MANILA, Philippines, August 11, 2016 – Emperador, the world’s largest brandy company and owner of Fundador – the largest brandy producer in Spain – realized a net income of PHP3.4b in the first six months of 2016, reflecting a growth of 5.5% over the comparable period in 2015. Net income in the second quarter of 2016 came in at PHP2.0 billion, up 9.4% year-on-year, but up almost 45% against the net income in 1Q16.
Earnings growth was achieved even as consolidated revenues of PHP18.4b in the first half of this year showed marginal growth of 0.2% over the same period of last year.
Emperador Inc. President Winston Co said, in a statement, “Our margins have enabled us to sustain strong profitability that’s underpinned by our brandy and whisky businesses. We have a compelling product portfolio that’s led by leading brandy brands in both local and foreign liquor segments in the Philippines – Emperador and Fundador brandy, respectively; and world-renowned whisky brands whose availability in Manila has been increasing since last year – The Dalmore and Jura.”
Emperador Inc. owns Emperador Distillers, Inc., Scotch whisky maker Whyte and Mackay, and Bodegas Fundador in Spain – whose purchase from Beam Suntory was just completed in early March of this year. Fundador is one of Spain’s most iconic brands and is the largest and oldest brandy producer.