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Manila Bulletin devider Business devider The Stock Market devider Cosco Capital's earnings rise as consumer demand recovers

Cosco Capital's earnings rise as consumer demand recovers

Published Aug 14, 2026 10:46 am

Cosco Capital Inc., the listed retail holding firm of tycoon Lucio L. Co, reported a 9.2-percent growth in consolidated net income to ₱8.3 billion for the first half of 2026 from the ₱7.6 billion earned in the same period last year on the back of recovering consumer demand.

“The group continued to benefit from the economic recovery amid the prevailing macroeconomic challenges by way of sustained and stronger revenue growth across all its major business segments,” the firm said in a disclosure to the Philippine Stock Exchange (PSE) on Friday, Aug. 14.

Strong operating performance from major business segments lifted consolidated revenues by 9.5 percent to ₱130.9 billion in the first half of 2026 from ₱119.5 billion in the same period of 2025.

In the first half of this year, the group’s grocery retailing businesses, Puregold Price Club Inc. and S&R Membership Shopping Club, contributed 70 percent of total net income, followed by liquor distribution with 21 percent, the commercial real estate segment with eight percent, and energy and minerals and specialty retail with one percent.

The grocery retail segment grew consolidated revenues to ₱121.48 billion for the first half of 2026, a 10.6-percent increase from ₱109.88 billion in the same period of 2025.

The grocery retail group’s consolidated net income for the first half of 2026 increased by 10.8 percent year-on-year to ₱5.87 billion from ₱5.3 billion, driven by strong topline growth and complemented by an improvement in gross margins.

The liquor distribution business, through The Keepers Holdings Inc., registered consolidated revenue amounting to ₱9.2 billion, a two-percent growth versus the previous year.

This was driven principally by Alfonso, the leading imported brandy in the market, which has already surpassed its pre-pandemic levels, the premiumizing market, and the rebound in the on-premise channel.

Net income for the liquor segment saw an increase of 7.2 percent to ₱1.74 billion in the first half of 2026 from ₱1.62 billion in the same period of 2025, driven by the strong sales volume performance of the imported brandy and spirits segment.

The commercial real estate segment posted growth in rental revenue amounting to ₱1.19 billion, up 16.1 percent in the first semester of 2026 as business operations of its tenant portfolio improved due to the increased level of economic activity as well as the full resumption of rental rates based on contracts.

The real estate segment saw its net income grow by 16.2 percent to ₱650 million in the first half of 2026 from ₱559 million in the same period last year.

Energy and minerals, a newly established segment, posted revenues of ₱155 million in the first half of 2026, lower by 49 percent versus the previous year, while it generated net income of ₱66 million, down by 44 percent for the same period.

For the specialty retailing business segment, Office Warehouse Inc.’s revenues improved by eight percent to ₱1.12 billion from ₱1.04 billion a year ago. Net income inched up 1.3 percent to ₱45 million from ₱44.5 million in the same period last year. - James A. Loyola

Related Tags

Cosco Capital Inc. The Keepers Holdings Inc. Puregold Price Club Inc. Lucio L. Co
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