Emperador core profit up 24% in Q1

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    Emperador Inc. said core profit for the second quarter of the year reached P1.9 billion, up 24 percent from the prior year’s P1.53 billion. This brought the company’s first half core profit to P3.3 billion, up 2 percent from last year.

    The company did not report its net profit and is yet to release its second quarter financial statement.

    Revenues reached P11 billion, up 4 percent from the prior year’s P10.57 billion, bringing the first half topline to P21.5 billion.

    “This is a very positive development during a complex year where external factors put huge pressure on some aspects of our business and open opportunity for others. On one side, consumption of spirits has been restricted in countries with liquor bans, with closure of on-trade channels (such as bars, restaurants, hotels), and a slump in global air travel. On another, business has been resilient in countries without liquor restrictions as consumers sought out our brands in the off-premise and e-commerce channels. By taking advantage of the buoyant grocery and convenience markets, our international business has delivered better-than-expected performance,” said Winston Co, Emperador president..

    Co said Emperador continues to exert effort to grow its international market while fighting to “widen leadership in the Philippines.”

    Emperador owns Emperador Distillers, Inc., Scotch whisky maker Whyte and Mackay Group, and Bodegas Fundador in Spain.