Cosco Capital Inc., the retail holding firm controlled by chairman Lucio Co, reported a 6.6-percent rise in consolidated net income to P10.7 billion in the first nine months of 2025 from P10 billion in the same period last year.
The robust performance was underpinned by an 11.5-percent jump in consolidated revenues to P182.9 billion, led by sustained revenue growth across all major business segments. This indicates recovering consumer demand amidst prevailing macroeconomic challenges.
The group’s performance benefited from strong operating results primarily from its grocery retailing and liquor distribution segments.
The grocery retailing businesses, Puregold Price Club Inc. and S&R Membership Shopping Club, contributed 68 percent of total net income, followed by the liquor distribution segment with 22 percent, commercial real estate with 8 percent and energy and minerals and specialty retail making up the remaining 2 percent.
The grocery retail segment grew consolidated revenues to P168 billion in the first nine months of 2025, representing a 10.6-percent growth over the P151.9 billion recorded last year.
The enterprise experienced positive same-store sales growth (SSSG) with Puregold Stores recording 4.8 percent on higher traffic and basket size and S&R Warehouse clubs posting 5.4 percent on higher traffic.
Consolidated net income for the grocery retail group increased by 5.6 percent to P7.3 billion, a result of the strong topline growth complemented by a slight increase in gross margins.
The liquor distribution business, The Keepers Holdings Inc., recorded consolidated revenue of P13.4 billion, a 14.4-percent growth compared to the previous year. This was achieved on the back of a 16-percent growth in the volume of cases sold.
The strong sales performance stemmed principally from Alfonso, the leading imported brandy in the market, which surpassed its pre-pandemic levels. Net income for the liquor segment saw a 12-percent increase to P2.43 billion, resulting from the imported brandy segment’s performance, supported by a premiumizing market and an on-premise channel rebound.
The commercial real estate segment posted a 2.3-percent decline in rental revenues, amounting to P895 million, but its net income grew by 10 percent to P838 million in the first nine months of 2025 versus P761 million in the same period of 2024.
The energy and minerals segment posted revenues of P429 million, while generating net income of P162 million for the period.
The specialty retailing business, Office Warehouse Inc., saw its revenues increase by 0.7 percent to P1.61 billion, with net income remaining flat at P65.7 million.
