Emperador Inc., the largest global brandy company, reported a 24 percent growth in attributable net income to P7.3 billion in the first three quarters of 2021 after deducting a non-cash deferred tax expense.
In a disclosure to the Philippine Stock Exchange, the firm said normalized (excluding non-recurring items attributable net profit jumped 35 percent to P7.9 billion in the first nine months of the year while revenues rose by 11 percent to P38.4 billion.
Emperador said its international brandy business led by Fundador continues to do well in the UK, US, Canada, Spain, Mexico, Canada, and Asia, including the Philippines.
Its whisky business also continues to pace strongly in North America, Europe as well as Asia, which is led by China.
“The net income in the first nine months of this year already matched 2020’s full-year earnings of P8 billion,” said Emperador Inc. President Winston Co.
He added that, “We are extremely delighted with our performance in spite of challenges in global logistics as well as the hard lockdown in the Philippines in the third quarter of 2021.”
“Our highly seasoned management team has brilliantly delivered stellar quarter on quarter results through these extraordinary times,” Co noted.
He declared that, “We are confident that 2021 will be another banner year for Emperador. As economies open up, we look forward to an even better 2022.”
Emperador is a brandy and whisky conglomerate that owns Fundador – Spain’s oldest and largest brandy and sherry maker with 300 years of brandy heritage.
It also owns Whyte & Mackay – the fifth largest whisky manufacturer globally with 175 years of whisky heritage. Emperador has a product presence in at least 100 countries across six continents.
Source: Manila Bulletin (https://mb.com.ph/2021/11/11/emperador-earnings-rise-to-p7-3-b/?utm_source=rss&utm_medium=rss&utm_campaign=emperador-earnings-rise-to-p7-3-b)
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