MANILA, Oct. 29 (PNA) — Listed liquor company Emperador Inc. reported a 15-percent increase in third-quarter (Q3) profit on stronger volume and higher margin.
In a disclosure to the Philippine Stock Exchange, Emperador said its net income reached Php1.5 billion in July to September this year from Php1.3 billion during the same period last year.
This brought net income during the first nine months of 2014 to nearly Php4.6 billion with consolidated revenues amounting to Php20 billion.
With the robust demand for brandy, Emperador is expanding its global footprint.
“We are excited about the export potential especially in Europe and Africa, which may commence in the first quarter of 2015,” said Emperador Inc. president Winston Co.
Co is optimistic that the company’s investment in Spain, which includes vineyards and brandy production facilities, can help it achieve better cost efficiency
Emperador Inc. owns 100 percent of Emperador Distillers, Inc. (EDI), which produces and markets its own products under the Emperador brand.
EMP is 87.55 percent owned by conglomerate Alliance Global Group, Inc. (PNA)