Liquor producer Emperador Inc. registered a net income of P6.8 billion in 2018, up eight percent from the previous year, on the double-digit growth of revenues.
Emperador said in a disclosure to the stock exchange revenues rose 10 percent in 2018 to P47 billion, boosted by strong sales from the domestic and international markets.
“Our renowned brandy and whisky products sold all over the world are the catalysts for continued growth and long-term shareholder value enhancement. Internationalization and premiumization will be the new frontier of growth moving forward,” said Emperador president Winston Co.
He said 2018 was exceptional for Scotland-based Whyte and Mackay with the business growing in every region of the world.
“Asia was a particularly strong market with revenues more than doubling as brands enjoyed fantastic success across a number of markets. The Dalmore, Whyte and Mackay’s flagship single malt whisky product, was again a major growth driver as it continued to attract new consumers at the apex of the single malt category,” he added.
Emperador has been aggressive in expanding its foreign brands, such as Emperador Brandy, Fundador Spanish Brandy de Jerez and The Dalmore in the overseas market.
Co also noted the strong performance of local brand Emperador.
“Emperador brandy continues to lead the domestic market. New programs are being initiated to capture the growing middle-class consumers,” he said.
Emperador has an ongoing buyback of shares worth P5 billion over a 24-month period that began in May 2017.
The company to date has bought back roughly 259 million shares amounting to around P1.86 billion.
Emperador owns Emperador Distillers Inc., Scotch whisky maker Whyte and Mackay Group and Bodegas Fundador in Spain.
The liquor firm is majority owned by Alliance Global Group Inc., the listed holding company of billionaire businessman Andrew Tan.
Share price of Emperador on Thursday fell 0.6 percent to P7.26.