Cosco books higher profit in first half

MANILA, Philippines — Strong operating performance across major business segments boosted earnings of Cosco Capital Inc. by 9.2 percent to P8.3 billion in the first half. 

The listed retail holding firm of tycoon Lucio Co generated revenues of P130.9 billion during the period, up by 9.5 percent from P119.5 billion in the same period of 2025.

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

“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 major business segments, which indicates recovering consumer demand,” Cosco said.

From January to June, the grocery retail group’s consolidated net income rose by 10.8 percent year-on-year to P5.87 billion, driven by strong top-line growth and complemented by an improvement in gross margins.

Revenues of the grocery retail segment jumped by 10.6 percent to P121.48 billion from P109.88 billion in the same period of 2025.

Earnings of the liquor distribution business through The Keepers Holdings lnc. accelerated by 7.2 percent to P1.74 billion on the back of higher revenues. 

The real estate segment, meanwhile, saw its net income expand by 16.2 percent to P650 million as its tenants’ business operations improved due to increased economic activity and the full resumption of rental rates under contracts.

For the specialty retailing business segment, Office Warehouse Inc.’s net income improved by 1.3 percent to P45 million, while revenues accelerated by eight percent to P1.12 billion.

Energy and minerals, a newly established segment, registered a net income of P66 million, down by 44 percent year-on-year, while revenues plunged by 49 percent to P155 million.