Cosco Capital Net Income Hits P3.68B in Q1 2025, Up 7.6%

Cosco Capital, Inc., the listed retail holding firm of Lucio L. Co, reported a 7.6% growth in its consolidated net income amounting to P3.67 billion for the first quarter of 2025 versus P3.42 billion same period last year. Strong operating performance from major business segments also lifted consolidated revenues by 11.5% to P56.7 billion in the first quarter of 2025 from P50.9 billion in the same period of 2024.

​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.

In the first quarter of 2025, the group's grocery retailing businesses, Puregold Price Club, Inc. and S&R Membership Shopping Club, contributed 72% of total net income, followed by the Liquor Distribution with 19%, Commercial Real Estate segment with 7%, Energy & Minerals and Specialty Retail with 2%.

The grocery retail segment grew consolidated revenues to P52.4 billion for 1Q 2025, up 10.8% growth from P47.3 billion in the same period last 2024. For the first quarter of 2025, the enterprise experienced positive same store sales growth (SSSG) of +5.9% from Puregold Stores driven by higher basket size and +4% 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% year on year to P2.6 billion from P2.5 billion the previous year driven by strong topline growth and complemented by stable gross margins.

The Liquor Distribution business thru The Keepers Holdings Inc. has recorded consolidated revenue amounting to P4.06 billion, a 20.9% growth versus previous year on the back of a 18% growth in volume of cases sold for the period. This was driven principally by Alfonso, the leading imported brandy in the market, which has already surpassed its pre-pandemic levels, premiumizing market and on-premise channel rebound. Net income for the liquor segment saw an increase of 14.3% to P690 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 2% decline in rental revenues amounting to P502 million in the first quarter of 2025 while its net income grew by 5.3% to P273 million in first quarter 2025 versus P259 million in the same period 2024.

The Energy and minerals segment posted revenues of P146 million in the first quarter of 2025 while it generated net income of P58 million for the same period.

For the Specialty Retailing business segment, Office Warehouse, Inc.’s revenues increased by 2.7% at P541 million in the first quarter of 2025 versus P527 million a year ago. Net income increased by 2.6% to P30 million in 1Q 2025 versus P29 million same period last year.