Emperador Inc Posts P1.4bn Net Income in Q1

Emperador Inc., the world’s largest brandy company and the Philippines’ largest liquor conglomerate, recorded nearly P9 billion in consolidated revenues in the first quarter of 2016, with net income amounting to P1.4 billion.

In a disclosure to the Philippine Stock Exchange, Emperador Inc (PSE:EMP) said the first quarter of this year also marked a significant milestone with the company taking over 286-year old Bodegas Fundador from Beam Suntory.

Emperador and Fundador brandy production facilities, combined, make the company the largest brandy entity in the world.

Read Also: Emperador (PSE:EMP) Buys Fundador for US$291 Million

“We have an unprecedented and compelling ownership of vineyards, bottling facilities and distilleries. We already have 1,500 hectares of vineyard land, roughly 1,000,000 square meters of cellar and bottling facilities, and three distilleries in Spain,” Winston Co, president of Emperador Inc., said,

Emperador Transforms Into World-Class Firm

Co added that in 2014, the acquisition of Scotch whiskey company Whyte and Mackay jump started the Philippine liquor conglomerate’s transformation into becoming a world-class company.

“The acquisition of Fundador brandy sealed the deal making our company truly global with access to 100 countries. And today, our brandy and whisky product portfolio is comprised of standard, premium, super premium, and luxury offerings,” said Co.

Emperador agreed with Beam Suntory Inc. to purchase its Spanish brandy and sherry business in Jerez de la Frontera, the brandy capital of Spain.

The purchase includes the iconic brands of Fundador, the Philippines’ best selling premium imported brandy; Terry Centenario, Spain’s number one selling brandy; Tres Cepas, the number one brandy in Equatorial Guinea and Harveys, the number one selling sherry wine in the United Kingdom.

At the Philippine Stock Exchange, Emperador Inc (PSE:EMP) rose 0.25% to end the trading day at P8 a share. A total of 1.075 million shares exchanged hands with a value of P8.56 million. – BusinessNewsAsia.com

[For the latest Financial and Business news in the Philippines, read FinancialNews.ph]
SHARE

LEAVE A REPLY