Businessman Lucio Co’s Cosco Capital Inc. and The Keepers Holdings Inc. reported double-digit growth in profit in 2022.
Cosco, the retail holding company of the Co family, registered a 16.8-percent growth in consolidated net income to P12.28 billion from P10.5 billion as revenues increased 13 percent to P197.1 billion from P174.4 billion. The group’s grocery retailing businesses, Puregold Price Club Inc. and S&R Membership Shopping Club, contributed 63 percent of total core net income, followed by the liquor distribution with 25 percent, commercial real estate segment with 11 percent and specialty retail at 1 percent.
Meanwhile, The Keepers, the largest imported liquor distribution in the Philippines, booked a record consolidated net income of P2.23 billion in 2022, a 41.1-percent growth from the previous year.
Consolidated revenues reached P13.95 billion, up 26.5 percent from 2021 as sales volume increased by 20 percent to 5.3 million cases in 2022.
