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Emperador profits up 11% as liquor demand rises worldwide

Ralf Rivas

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Emperador profits up 11% as liquor demand rises worldwide
'The success of our international expansion boosted company earnings, bringing stability and growth at a time when the Philippines wrestles with the impact of the coronavirus,' says Emperador president Winston Co

Emperador Incorporated saw an 11% rise in its net income to P5.9 billion in the first 9 months of 2020, as international sales of brandy and whiskey soared during the coronavirus crisis.

During the 3rd quarter alone, profits rose by 26%, with sales of its Fundador brand in the United Kingdom surging by 185%.

Fundador also achieved “spectacular performance” in the United States and Canada.

Emperador expects the highest international growth to come from China, driven by its premium single malt and brandy brands.

Figures for the Philippine market were not provided in the disclosure.

“The success of our international expansion boosted company earnings, bringing stability and growth at a time when the Philippines wrestles with the impact of the coronavirus,” Emperador president Winston Co said. – Rappler.com

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Ralf Rivas

A sociologist by heart, a journalist by profession. Ralf is Rappler's business reporter, covering macroeconomy, government finance, companies, and agriculture.