Emperador posts P10-B profit in 2021

Emperador Inc., the largest global brandy company, reported a 35 percent growth in normalized (excluding non-recurring items) net profit to P10.8 billion last year from P8 billion.

In a disclosure to the Philippine Stock Exchange, the firm said its normalized attributable net profit went up by 34 percent year-on-year to P10.6 billion in 2021.

Emperador noted that, even after deducting an extraordinary non-cash deferred tax expense, net profit to owners increased by 25 percent year-on-year to P10 billion.

Revenues improved 6 percent to P55.9 billion as Emperador’s international brandy business was led by Fundador that did very well in the United Kingdom, the United States, Canada, Spain, Mexico, and Asia, including the Philippines.

The whisky business performed strongly in North America, Europe as well as Asia, led by Greater China.

“We are very much elated and grateful given that our company performed extremely well, marking another banner year,” said Emperador President Winston Co.

He noted that, “Against a backdrop of the global pandemic, Emperador managed to remain resilient. We are very fortunate to have a deep and diversified brandy and whisky portfolio, and a vast product availability across at least 100 countries.”

“This blends well with our highly seasoned and experienced management team from the UK, Scotland, Spain, Mexico, and the Philippines. We remain steadfast in the face of new challenges in global logistics, rising cost, and new surges of new COVID-19 variants. We remain optimistic economies will open up more in the coming months,” Co added.

Emperador 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.

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Credit belongs to : www.mb.com.ph

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