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Manila Bulletin devider Business devider The Stock Market devider Cosco profits rise 7.6% in Q1 2025 as grocery, liquor sales soar

Cosco profits rise 7.6% in Q1 2025 as grocery, liquor sales soar

Published May 9, 2025 11:08 am

Grocery and liquor sales drove the growth in earnings of Cosco Capital, Inc., the listed retail holding firm of tycoon Lucio L. Co, due to recovering consumer demand as the economy continues to post strong growth while inflation eases.

The firm reported a 7.6 percent improvement in consolidated net income to ₱3.67 billion for the first quarter of 2025 from the ₱3.42 billion earned in the same period last year.

Strong operating performance from major business segments also lifted consolidated revenues by 11.5 percent to ₱56.7 billion in the first quarter of 2025 from ₱50.9 billion in the same period last year.

“The Group continued to benefit from the economic recovery amidst the prevailing macroeconomic challenges by way of sustained and stronger revenue growth across all its business segments, which indicates the recovering consumer demand,” Cosco said.

In the first quarter of 2025, the group's grocery retailing businesses, Puregold Price Club, Inc. and S&R Membership Shopping Club, contributed 72 percent of total net income, followed by the Liquor Distribution with 19 percent, Commercial Real Estate segment with seven percent, Energy & Minerals and Specialty Retail with two percent.

The grocery retail segment’s consolidated revenues increased to ₱52.4 billion for the first quarter of 2025, up 10.8 percent from ₱47.3 billion in the same period of 2024.

For the first quarter of 2025, the enterprise experienced positive same-store sales growth (SSSG) of 5.9 percent from Puregold stores, driven by higher basket size, and four percent from S&R Warehouse clubs, driven by higher traffic.

The grocery retail group's consolidated net income for first quarter 2025 grew by 6.5 percent year on year to ₱2.6 billion from ₱2.5 billion the previous year driven by strong topline growth and complemented by stable gross margins.

The Liquor Distribution business through The Keepers Holdings Inc. has recorded a net income growth of 14.3 percent to ₱690 million in the first quarter of 2025, resulting from the strong sales performance from the imported brandy segment.

The Commercial Real Estate segment posted a two percent decline in rental revenues, amounting to ₱502 million in the first quarter of 2025, while its net income grew by 5.3 percent to ₱273 million in the first quarter of 2025 versus ₱259 million in the same period in 2024.

The Energy and minerals segment posted revenues of ₱146 million in the first quarter of 2025, while it generated net income of ₱58 million for the same period.

For the Specialty Retailing business segment, Office Warehouse, Inc.'s revenues increased by 2.7 percent to ₱541 million in the first quarter of 2025 versus ₱527 million a year ago. Net income increased by 2.6 percent to ₱30 million in the first quarter of the year versus ₱29 million in the same period of 2024.

Related Tags

Cosco Capital Inc. Lucio L. Co Puregold Price Club S&R Membership Shopping Club The Keepers Holdings Inc.
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