Andrew Tan’s Emperador faces profit squeeze amid rising costs

Liquor giant Emperador Inc. of ultra bilyonaryo Andrew Tan reported only a three percent rise in its six-month net income to P5.3 billion as it faced global supply chain issues and higher costs.

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In a statement, the world’s biggest brandy producer and owner of whisky maker Whyte and Mackay said consolidated revenues managed to grow by 11 percent to P28 billion on robust sales from the international market.

International sales went up by 13 percent, mostly driven by the whisky segment.

Emperador Inc. president Winston Co said: “After back-to-back banner performances in 2020 and 2021, our company continues to deliver growth despite supply chain challenges and increase in input costs.”

“Our international business continued to perform well led by the single malt whisky portfolio, which continues to be amongst the fastest growing single malts in the world. Growth continued to be strong in Asia, Europe, and North America,” he added.

Co said the Emperador expects to perform better in the second half of the year.

To further expand its global presence, the company is exploring a joint venture in China as part of its internationalization strategy.

Apart from Whyte and Mackay, the world’s fifth largest Scotch whisky producer, Emperador also owns the multi-awarded Spanish Brandy de Jerez. Its brandy and whisky products are available in more than 100 countries.

Germany raids properties belonging to Russian oligarch

German investigators on Wednesday raided properties belonging to a Russian oligarch suspected of tax evasion and breaking EU sanctions, police and prosecutors said, with sources naming billionaire Alisher Usmanov as the target.

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