Philippine Daily Inquirer
1:53 pm | Tuesday, May 6th, 2014
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MANILA, Philippines — Brandy-maker Emperador Inc. sees its net profit hitting P11.6 billion in two to three years, doubling last year’s level, as the company expands its footprint locally and globally.
In a disclosure to the Philippine Stock Exchange on Tuesday, Emperador said it was targeting to double its bottomline by 2016-2017 from last year’s level of P5.8 billion.
Dina Inting, Emperador chief finance officer, said this growth would be supported by the planned expansion of the company domestically and globally.
The disclosure added that to strengthen its capital base and to help fund its expansion plans, Emperador’s board of directors had directed the company’s president, Winston Co, to appoint global investment banks to advise the company on such planned expansion, including raising funds through the debt market.
The company indicated an intention to raise from the debt market an amount equivalent to up to 70 percent of the company’s stockholders’ equity. This is seen to augment the company’s cash hoard of about P24 billion as of end-2013.
Emperador, the liquor arm of local conglomerate Alliance Global Group Inc. earlier confirmed ongoing talks to acquire the spirits business of Scottish whisky maker Whyte & Mackay from global premium liquor firm Diageo plc. A report by newswire Bloomberg estimated that a prospective deal may be valued at around $675 million.
In its disclosure, Emperador said its ongoing expansion was in line with the strategy of diversifying and strengthening its liquor product portfolio as well as its strategy of increasing its share of the premium segment of the liquor industry.
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Tags: brandy , Business , emperador inc. , liquor , Profit
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