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Strong overseas sales boost Emperador income in 2020

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Emperador Inc., the liquor arm of businessman Andrew Tan, said is attributable income grew 19 percent last year to P8 billion, from the previous P6.72 billion mainly due to its strong overseas sales.

The company said its revenues grew 4 percent to P52.6 billion from last year’s P50.25 billion.

For the fourth  quarter alone, preliminary data showed that its revenues grew by a mere 2 percent  to P18.13 billion, but net income almost doubled to P2.19 billion compared with the fourth quarter of 2019 figures.

“The resilience of the company shows the strength of our business coupled with the strength of our whisky and brandy portfolio across the globe resulting in stability and growth amid the challenges. The company also took the opportunity to streamline efficiencies to enable the company to be nimble and effective in the markets. 2020 has set a new path and platform for our future growth,” Emperador President Winston Co said.

Emperador, which started as a maker of cheap brandy but now owns a portfolio of brandy and Scotch whisky that included well-known and expensive ones, said its global footprint enabled the company to navigate through the challenges of 2020.

The company said its businesses continued its growth trajectory in the United Kingdom, Asia, Europe, United States, The Netherlands, Sweden and Russia amid the challenges.

“While certain aspects of the business have been affected by the impact of Covid-19, particularly on-trade and global travel retail resulting from lockdowns and dry law implementation, these have been offset by increased sales in off-trade and e-commerce. While not totally impervious to the adverse effects of the conditions, Emperador’s global business adapted well to new consumption trends,” it said.

Read full article on BusinessMirror

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