Cosco Capital Inc., the investment holding company of billionaire Lucio Co, reported a 3.4 percent increase in consolidated net income to P15.96 billion in 2025, supported by resilient consumer demand and steady growth across its core business segments.
Consolidated revenues rose 11 percent to P262 billion from P237 billion a year earlier, reflecting stronger sales across grocery retail, liquor distribution, and property operations as economic activity continued to recover despite macroeconomic headwinds.
The company’s grocery retail segment—anchored by Puregold Price Club, Inc. and S&R Membership Shopping Club—remained the main earnings driver, contributing 68 percent of total net income.
Segment revenues grew 11 percent to P242.45 billion, supported by same-store sales growth of 4.1 percent for Puregold and 6.1 percent for S&R, driven by higher basket sizes and increased store traffic. Net income from the segment rose 8.8 percent to P11.3 billion.
Liquor distribution, led by The Keepers Holdings, Inc., contributed 24 percent of total earnings. Revenues climbed 9 percent to P20.2 billion on an 8 percent increase in case volumes, driven by strong demand for Alfonso brandy and a rebound in on-premise consumption. Net income inched up 0.8 percent to P3.56 billion.
The commercial real estate segment posted a 2.4 percent increase in rental revenues to P2.13 billion, with net income rising 6 percent to P1.14 billion as tenant operations improved. Smaller segments, including energy and specialty retail, also delivered modest gains.
Reflecting its solid performance, Cosco’s board approved a combined dividend payout of about P2.8 billion, consisting of a regular dividend of P0.265 per share and a special dividend of P0.133 per share, translating to a yield of 5.77 percent.
Cosco’s results highlight the resilience of consumer-driven businesses, with grocery retail continuing to anchor earnings. Sustained consumption and diversified income streams are expected to support steady growth heading into 2026.
