Emperador considering 2021 as ‘another banner year’

The firm on Thursday said its net profit normalized in the first 9 months of the year, growing 35 percent to $0.16 billion

Emperador Inc., the liquor arm of business tycoon Andrew Tan, is considering 2021 as "another banner year" for the company as its nine-month earnings nearly matched 2020 profit levels.

The firm on Thursday said its net profit normalized in the first 9 months of the year, growing 35 percent to P7.9 billion ($0.16 billion).

Its net income in the first 9 months has already matched the full 2020 earnings of P8 billion, the global brandy company told the stock exchange.

Revenues rose 11 percent to P38.4 billion ($0.77 billion), it said.

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, Emperador Inc president Winson Co said.

We are confident that 2021 will be another banner year for Emperador, as economies open up. We look forward to an even better 2022, he added.

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.

Meanwhile, its whiskey business also keeps gaining pace in North America, Europe as well as in Asia.

Emperador said its liquor products are present in more than 100 countries.

Emperador is a brand of cut brandy and brandy produced by Emperador Inc., an 81% owned subsidiary of Alliance Global Group. The shares of Emperador Inc. are traded at the Philippine Stock Exchange with the symbol "EMP".

Other brands under Emperador Inc. include Fundador and Whyte & Mackay.

In September, Emperador said it has submitted documents for its secondary listing at the Singapore Exchange.