Emperador Inc. – the world’s largest brandy company that owns Spanish brandies led by the iconic Fundador as well as Scotch whisky brands led by The Dalmore and Jura single malts – recorded an 11% year-on-year increase in earnings in the first quarter of this year, amounting to almost Php1.66 billion. Revenues grew 8.5% to Php9.7 billion. Margins were relatively stable.
Emperador Inc. President Winston S. Co said, “We are happy that Emperador is on to a good start with good growth coming from international operations – Scotch whisky and Spanish brandy –showing growth momentum moving forward. The single malt whisky business, in particular, continues to enjoy greater demand across all regions globally. Likewise, the brandy business continues to geographically expand its reach on the back of greater distribution, visibility and availability. In the Philippines, we have strong initiatives to rekindle the domestic brandy business. We envision robust and stable international and domestic businesses in the long run.”
Meanwhile, the company has an ongoing buyback of shares of up to Php5 billion over a 24-month period that began in May 2017 underpinned by management’s belief that company shares are undervalued and that this exercise will enhance shareholder value in the long run. About 125 million shares have been bought since last year.
Emperador Inc., a publicly listed company at the Philippine Stock Exchange, owns Emperador Distillers, Inc., Scotch whisky maker Whyte and Mackay Group, and Bodegas Fundador in Spain.