Cosco Capital, Inc., the listed retail holding firm led by businessman Lucio L. Co, reported a 9.2% growth in its consolidated net income, reaching PHP 8.3 billion for the first half of 2026, compared to PHP 7.6 billion during the same period last year.
Strong operational performances across all major business segments also lifted consolidated revenues by 9.5% to PHP 130.9 billion in 1H 2026, up from PHP 119.5 billion in 1H 2025. The Group continued to capitalize on economic recovery and resilient consumer demand despite prevailing macroeconomic challenges.
For the first half of 2026, Cosco Capital’s earnings drivers were led by its core businesses:
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Grocery Retailing: Contributed 70% of total net income.
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Liquor Distribution: Contributed 21% of total net income.
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Commercial Real Estate: Contributed 8% of total net income.
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Energy & Minerals and Specialty Retail: Combined contribution of 1%.
1. Grocery Retailing (Puregold Price Club, Inc. and S&R Membership Shopping Club)
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Revenues: Grew 10.6% to PHP 121.48 billion from PHP 109.98 billion in 1H 2025.
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Net Income: Increased 10.9% year-on-year to PHP 5.87 billion from PHP 5.30 billion, driven by robust top-line growth and improved gross margins.
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Same Store Sales Growth (SSSG):
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Puregold Stores: Up 3.1%, driven by larger basket sizes.
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S&R Warehouse Clubs: Up 12.8%, primarily driven by higher customer traffic.
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2. Liquor Distribution (The Keepers Holdings, Inc.)
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Revenues: Reached PHP 9.2 billion, a 2% increase year-on-year, propelled by Alfonso—the leading imported brandy in the market—which has surpassed pre-pandemic levels due to market premiumization and a rebound in the on-premise channel.
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Net Income: Rose 7.2% to PHP 1.74 billion from PHP 1.62 billion in 1H 2025.
3. Commercial Real Estate
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Rental Revenues: Increased 16.1% to PHP 1.19 billion, supported by heightened economic activity among tenant portfolios and the full resumption of contracted rental rates.
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Net Income: Grew 16.2% to PHP 650 million compared to PHP 559 million in the previous year.
4. Specialty Retailing (Office Warehouse, Inc.)
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Revenues: Improved 8% to PHP 1.12 billion from PHP 1.04 billion a year ago.
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Net Income: Increased 1.3% to PHP 45 million from PHP 44.5 million in 1H 2025.
5. Energy and Minerals
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Revenues: Recorded at PHP 1.55 million, down 49% versus the previous year.
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Net Income: Generated PHP 66 million, lower by 44% for the same period.
Cosco Capital, Inc. is a leading retail holding company in the Philippines with diverse business interests spanning grocery retailing, liquor distribution, commercial real estate, specialty retailing, and energy and minerals.
