Cosco Capital profit rises 3.4% on grocery, liquor growth

Lucio L. Co-led Cosco Capital, Inc. said its net income rose by 3.4% to P15.96 billion in 2025 from P15.4 billion a year earlier, driven by its grocery and liquor segments.

In a regulatory filing on Wednesday, the company said consolidated revenue increased by 10.6% to P262 billion from P237 billion in 2024.

The grocery retail segment, led by Puregold Price Club, Inc. and S&R Membership Shopping Club, accounted for 68% of total net income. This was followed by liquor distribution at 23.5%, commercial real estate at 7%, energy and minerals at 1%, and specialty retail at 0.5%.

“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 Capital said.

For 2025, the grocery retail business posted an 8.8% increase in net income to P11.3 billion, while revenue grew by 10.6% to P242.45 billion.

Puregold stores recorded a 4.1% same-store sales growth, while S&R Warehouse clubs posted a 6.1% increase, driven by higher foot traffic and larger basket sizes.

The liquor distribution segment, led by The Keepers Holdings, Inc., reported a 0.8% increase in net income to P3.56 billion.

Revenue rose by 9% to P20.2 billion, supported by an 8% increase in case volumes.

The company attributed the growth to strong performance of the Alfonso imported brandy, a shift toward higher-end products, and a recovery in on-premise sales.

The Keepers distributes liquor brands including Johnnie Walker, Chivas Regal, Glenfiddich, Suntory, Jinro, Jose Cuervo, Jim Beam, and Penfolds.

The commercial real estate segment posted a 6% increase in net income to P1.14 billion.

Rental revenue rose by 2.4% to P2.13 billion, supported by improved tenant operations and the full resumption of contractual rental rates.

The energy and minerals segment generated P186 million in net income and P526 million in revenue.

Meanwhile, the specialty retail segment, led by Office Warehouse, Inc., reported a 6.2% increase in net income to P69 million, while revenue rose by 1.8% to P2.11 billion. — Alexandria Grace C. Magno