Emperador

Emperador, the world's biggest brandy producer and owner of the world's fifth largest Scotch whisky manufacturer, recorded a 2% year-on-year improvement in attributable profit to P3.3-billion in the first half this year. Consolidated revenues stood flat at P21.5-billion despite the imposition of the liquor ban during the lockdown which affected domestic liquor sales. In the second quarter, Emperador' sales and earnings got a boost mainly from its Scotland-based Whyte and Mackay operations which saw its whisky revenues jump by 29% while more than doubling its profit from year ago levels. Its Scotch whisky operations contributed 31% of the group's business in the first half of this year. Meanwhile, the ongoing community quarantine, which put a temporary halt in casino gaming operations, has taken its toll on Travellers International. The owner and operator of Resorts World Manila (RWM) recorded a net loss of P3.7-billion in the first half this year, a reversal from its P845-million net income the year before. Gross gaming revenues were more than halved to P6.1-billion while its non-gaming revenues fell 44% to P1.7-billion, the latter due to limited hotel operations and MICE activities. Overall gross revenues plunged 53% year-on-year to P7.8-billion.