Emperador Inc. Q2 Profit Up 24% Despite Virus

Emperador Inc., led by Andrew Tan, has managed to grow in net profit by ₱1.9 billion or 24% year-on-year by successfully implementing budgeting and belt-tightening measures to combat the economic challenges posed by the coronavirus pandemic.

Emperador’s net profit for the first semester of 2020 reached ₱3.3 billion, a 2% increase for the same period in 2019.

Emperador’s second quarter revenues increased to ₱11 billion, a 4% year-on-year increase, allowing revenues for the first half of 2020 to reach ₱21.5 billion, similar to the first half of  2019.

Winston Co, President of Emperador, said “Indeed, 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.”

Co added, “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.”

“We took the opportunity to manage costs and this helped our bottomline. The company is mitigating risks and capturing opportunities. We are continuing to grow internationally while fighting to widen our leadership in the Philippines.”

Co also said “Although, we are in good shape, we need to keep pushing as we continue to face unprecedented and very challenging times. Emperador remains strong and resilient, and our global footprint will allow us to emerge stronger and better from this experience.”