Emperador Inc. reported a profit of P10.1 billion last year, flat from 2021.
Revenues rose by 12 percent to P62.8 billion from P55.94 billion, driven by the strong demand for its whisky and brandy products around the world, the company said.
The whisky segment grew 18 percent and the brandy segment by 9 percent.
Despite the flat profit growth last year, Emperador attributed the strong performance to the diversity of its product portfolio available in over 100 countries.
“We achieved top line growth to end the year with a banner performance in 2022 despite the challenges posed by high inflation, and supply chain and logistics issues. There was a lot of volatility last year, but our overall global business remained strong, led by Emperador’s single malt whiskies, which continued to enjoy strong demand across the globe. We look forward to an even better performance in 2023,” said Winston Co, Emperador president.
Co added the growth in the whisky segment was propelled by higher sales of Emperador’s single malt whiskies across almost all of the conglomerate’s key markets around the world, led by Asia, North America and Europe, as well as the resurgence of travel retail.
“The brandy segment, meanwhile, sustained year-on-year topline growth particularly in the Philippines, Spain, Mexico, and North America,” he said. – Ruelle Castro
