Emperador net income slips as scotch business struggles

Global headwinds for its scotch business dragged down earnings for Emperador Inc., the spirits unit of Alliance Global Group, with attributable net income slipping to ₱4.68 billion in the first nine months of the year from ₱4.79 billion a year ago.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange, the spirits firm reported that revenues declined 4.6 percent to ₱41.22 billion from ₱43.2 billion in the comparable period last year.

"The brandy business has returned to growth in the nine-month period. The Scotch whisky business continued to face challenges due to the soft global market situation," Emperador said.