Cosco books higher profit in first half

Manila, Philippines — Cosco Capital Inc., the retail holding firm of tycoon Lucio Co, reported a 9.2 percent increase in first-half earnings to P8.3 billion, driven by robust performance across key business segments. The company's revenue reached P130.9 billion, marking a 9.5 percent growth from P119.5 billion in the corresponding period of 2025.

Puregold Price Club Inc. and S&R Membership Shopping Club jointly contributed 70 percent of the total net income, liquor distribution accounted for 21 percent, commercial real estate contributed 8 percent, and energy and minerals and specialty retail accounted for 1 percent.

Cosco highlighted that the company's continued growth was a result of the ongoing economic recovery, overcoming macroeconomic challenges through resilient revenue growth. Within the grocery retail business segment, the consolidated net income rose by 10.8 percent year-on-year to P5.87 billion, fueled by strong top-line growth and improved gross margins. Revenue in this segment increased by 10.6 percent to P121.48 billion, up from P109.88 billion in the same period last year.

The liquor distribution business, through The Keepers Holdings Inc., experienced a 7.2 percent surge in earnings to P1.74 billion, attributed to rising revenues. The commercial real estate segment saw a 16.2 percent increase in net income to P650 million as tenants' business operations improved due to heightened economic activity and the resumption of rental rates under their contracts.

Specialty retailing business, Office Warehouse Inc., reported a 1.3 percent rise in net income to P45 million, with revenues accelerating by 8 percent to P1.12 billion. However, the energy and minerals segment, a recently established business unit, experienced a 44 percent drop in net income to P66 million, along with a 49 percent decrease in revenues to P155 million.