Billionaire Andrew Tan’s liquor conglomerate Emperador Inc. said net income slipped on inflationary pressures while revenues rose on strong demand for alcoholic drinks. | PDI
“There was a lot of volatility last year, but our overall global business remained strong, led by Emperador’s single malt whiskies, which continued to enjoy strong demand across the globe. We look forward to an even better performance in 2023,” he added.It said whisky sales grew 18 percent while brandy revenues were up by 9 percent last year.
“Last year’s robust performance of Emperador Inc.’s whisky segment was propelled by higher sales of its single malt whiskies across almost all of the conglomerate’s key markets around the world led by Asia, North America, and Europe, as well as the resurgence of travel retail,” the company said. “The brandy segment, meanwhile, sustained year-on-year topline growth particularly in the Philippines, Spain, Mexico, and North America,” it added.Its whisky and brandy products are currently available in over 100 countries around the world. It earlier announced plans to bring international sales to 50 percent of revenues and profits by 2025.
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