LUCIO Co-led Cosco Capital Inc. and liquor distributor The Keepers Holdings Inc. on Friday reported higher earnings for the first quarter of 2026 on stronger consumer spending and sustained demand for retail and alcoholic beverage products.
Cosco Capital said consolidated net income rose 21.6 percent to P4.47 billion as revenues increased 11.3 percent to P63.1 billion.
The conglomerate’s grocery retail business, led by Puregold Price Club and S&R Membership Shopping Club, remained the main earnings driver, contributing 72 percent of total net income.
The segment posted a 23.7-percent increase in earnings to P3.26 billion while revenues climbed 12.1 percent to P58.78 billion.
Puregold stores recorded same-store sales growth of 5.4 percent on higher basket sizes, while S&R warehouse clubs posted a 12-percent increase due to stronger customer traffic.
Liquor unit Keepers likewise reported higher first-quarter earnings, with net income rising 17.6 percent to P811 million from P690 million previously.
Revenues grew 6.1 percent to P4.3 billion with sales volumes up 4 percent, driven mainly by strong demand for the imported brand Alfonso brandy and the continued recovery of on-premise channels such as bars and restaurants.
Cosco’s commercial real estate business also saw improved results, with net income climbing 28.1 percent to P350 million as rental revenues rose 21.1 percent to P612 million.
Meanwhile, the group’s energy and minerals business saw revenues decline 34 percent to P97 million, while specialty retail unit Office Warehouse Inc. posted a 4.3-percent increase in revenues to P565 million.
Cosco Capital shares on Friday jumped P0.18, or 2.64 percent, to close at P7.01 each while The Keepers shares also climbed P0.08, or 4.21 percent, to close at P1.98 each.
