“Sales grow anemically due to competition, growing less than 3% to P6.79 billion in the third quarter, but still better than the decline in second quarter,” said Luis A. Limlingan, Regina Capital’s managing director. “Management cited increased pressure from its competitors in the previous quarters and the performance in third quarter shows that competitive pressure has not eased,” he added. Emperador’s disclosures to the stock exchange showed that its revenues increased by 2.8% to P6.8 billion in the third quarter of 2014 -- a turnaround from a 24.8% decline in revenues for the April-to-June period. In the nine months to September, however, the Filipino-owned brandy’s net income inched up by only 0.63% year on year to P4.6 billion as revenues dropped by 2.72%. “Despite the improvement in third-quarter earnings, results for the first nine months still lag consensus estimates,” said Mr. Limlingan, pointing out that competition hampered growth in the brandy company’s sales. EMP shares closed at P10.60 apiece last Friday, up by 0.76% from the day before. Support and resistance levels were pegged at P10.53 and P10.70, respectively.
Posted on: Mon, 26 Jan 2015 01:01:21 +0000
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