Corporate News

Emperador profit drops in January-June period

Posted on August 10, 2017

EMPERADOR, Inc.’s net income fell during the first six months of 2017, as the company noted softer liquor consumption in the country during the period.

In a statement issued on Wednesday, the Andrew L. Tan-led liquor company said it booked a net income of P2.7 billion in the first semester. This is 20% lower than the P3.4-billion profit for the first half of 2016, based on a regulatory filing.

Revenues for the January to June period also slipped to P18.1 billion, against the P18.4 billion it generated in the first half of 2016.

“Domestic liquor consumption was softer in the first six months of this year, but we are hopeful for a better performance in the next six months. We believe the domestic market is going through a transition that offers many interesting opportunities,” Emperador President Winston S. Co was quoted as saying in a statement.

Amid the downward performance for the period, the company noted its positive outlook on its consumers.

“We are very keen to bring new excitement and drinking experience to the consumers. For the first half of this year, the company has committed much resources to bring new exciting products to market both in the Philippines and abroad,” Mr. Co said.

The company introduced new products to the market during the period, including Andy Cola which targets the younger generation, as well as Hotshot Brandy.

Incorporated in 2001, Emperador owns the Spanish brand Fundador and Scotch whisky brands The Dalmore and Jura.

Shares in Emperador slipped by 6.85% or 52 centavos to close at P7.07 each at the Philippine Stock Exchange on Wednesday. -- Arra B. Francia