COSCO Capital Inc. on Friday reported stronger first-half earnings, driven by increased sales from its grocery retail, liquor distribution and commercial real estate businesses.
Consolidated net income rose 9.2 percent to P8.31 billion in the six months ended June from P7.61 billion, while revenues increased 9.5 percent to P130.91 billion from P119.54 billion.Net income attributable to the parent company’s equity holders grew 8.5 percent to P4.90 billion from P4.52 billion.The group’s grocery retail business, composed of Puregold Price Club Inc. and S&R Membership Shopping Club, remained the biggest earnings contributor, accounting for 70 percent of total net income.The retail segment booked revenues of P121.48 billion, up 10.6 percent from P109.88 billion in the same period last year. Coupled with improved gross margins, the segment saw net income grow 10.9 percent to P5.87 billion from P5.3 billion previously.Puregold stores recorded same-store sales growth of 3.1 percent, attributed to higher basket sizes, while S&R warehouse clubs posted 12.8-percent growth on higher customer traffic.Cosco’s liquor distribution business, The Keepers Holdings Inc., recorded a 2-percent increase in revenues to P9.22 billion from P9.04 billion. Net income after tax rose 7.2 percent to P1.74 billion from P1.62 billion in the first half of 2025.The improvement was driven mainly by stronger sales volumes of imported brandy and spirits, particularly Alfonso, along with a premiumizing market trend and a recovery in on-premise channel sales.Cosco’s commercial real estate segment also posted higher earnings, with rental revenues climbing 16.1 percent to P1.19 billion. Net income increased 16.2 percent to P650 million from P559 million as tenant operations improved and contractual rental rates fully resumed.Its specialty retail business, Office Warehouse Inc., recorded an 8-percent increase in revenues to P1.12 billion from P1.04 billion, while net income edged up 1.3 percent to P45 million from P44.5 million.The energy and minerals segment, however, saw revenues fall 49 percent to P1.55 billion, leading to a 44-percent decline in net income to P66 million.Cosco Capital is the listed holding company of businessman Lucio Co, with interests in grocery retail, liquor distribution, commercial real estate, energy and minerals, and specialty retail.Cosco Capital shares added P0.21, or 2.59 percent, to close at P8.31 each on Friday, while shares of The Keepers edged up P0.01, or 0.53 percent, closing at P1.89 apiece.
