Emperador stood resilient with P10.7-B revenues in 1Q of 2020
- Emperador Inc. secured P10.7-B revenues for the First Quarter of 2020.
- Revenues slightly down by 3% with P11-B revenues the same period last year.
- It reported a P1.5-billion net income attributable to equity holders of the parent firm in the first quarter of this year.
Emperador Inc. registered P10.7 billion revenues in the first three months of 2020.
The revenue position of the world’s largest brandy company owning the iconic Emperador Brandy and Fundador Spanish Brandy de Jerez is slightly by 3% even with the coronavirus disease 2019 (COVID19) pandemic in the offing. It earned P11-billion in the same period last year.
The company managed to report a P1.5-billion net income attributable to equity holders of the parent firm in the first quarter of this year, lower by 16% compared to last year.
Emperador Inc. President Winston Co said, “Coming from a spirit tax increase, the brandy segment was performing well in the first two months but was cut short particularly in mid-March when the entire Luzon island was placed under quarantine, disrupting operations and the flow of our products.”
The liquor ban further aggravated the disruption, noted Emperador Inc., while it hopes that its velocity of sales will resume when the country returns to normal.
“We know that we will celebrate again, soon,” Co expressed.
Emperador Inc., a publicly listed company at the Philippine Stock Exchange, owns Emperador Distillers, Inc., Scotch whisky maker Whyte and Mackay Group, and Bodegas Fundador in Spain.