Emperador Q1 net income surges to P1.03-B, up 124%
MANILA, Philippines - Going by the first quarter financial performance of the country's largest liquor company by sales volume, more Filipinos are buying alcoholic beverage.
Emperador Distillers Inc. announced a 124% jump in net income in the first 3 months of 2012, its parent firm, Andrew Tan-led Alliance Global Group Inc, disclosed to the stock exchange on Tuesday, May 15.
The liquor maker said its net income reached P1.03 billion from revenues of P5.5 billion in the same period, reflecting a 64% increase.
“The growth this year can be attributed to higher consumer spending coupled with the increased patronage of our products” said Emperador President Winston Co.
Banking on the company products' strong performance, and boosted by additional capacity from a recent purchase of a production facility, Emperador is "looking at another record year in terms of sales revenue and net income for 2012," added Co.
In 2011, Emperador Distillers's P17.35 billion in net income contributed around 26% of Alliance Global’s consolidated bottomline.
"With the recent acquisition of Diageo Philippines' Sta. Rosa facilities, we will continue to boost our competitiveness and promote Emperador as a strong global brand," Co stressed.
On May 4, Alliance Global announced the acquisition of Diageo's local facilities and said this is part of strategy to boost Emperador's competitiveness in the Philippines and abroad, as well as its target of "at least 20% growth in net income" in 2012.
Diageo is an international company whose brands include Smirnoff, Johnnie Walker, Baileys, Gordon's Gin and Jose Cuervo.
Emperador's portfolio of food and drinks portfolio of brands includes:
- Emperador Brandy, the flagship brand
- Generoso Brandy, for female market
- The Bar, flavored alcoholic beverage
- Pik-Nik, shoestring potatoes
- Carlo Rossi California Red wines
Alliance Global, formerly a a glass-container manufacturer, acquired Emperador Distillers from The Andresons Group, Inc. and other individual stockholders in 2007.
Aside from its food and beverage business under Emperador Distillers, the Andrew Tan-led Alliance Global is also into real estate (Megaworld Corp) and tourism and gaming (Travellers International Hotel Group, which operates Resorts World and will soon have casino and hotel facilities at the Pagcor Entertainment City). - Rappler.com