MANILA, Philippines — Cosco Capital Inc., the retail holding firm led by tycoon Lucio Co, reported a robust 21.6-percent growth in its consolidated net income for the first quarter of 2026. The surge is attributed to heightened consumer demand across its core retail, liquor, and real estate segments.
According to the company’s disclosure on Friday, May 8, 2026, consolidated net income reached ₱4.47 billion for the January-to-March period, up from ₱3.68 billion during the same quarter last year.
Cosco Capital’s diversified portfolio benefited from a steady recovery in the Philippine economy, resulting in strong top-line growth.
- Consolidated Revenues: Rose by 11.3 percent to ₱63.1 billion, compared to ₱56.7 billion in the previous year.
- Grocery Retail (Puregold & S&R): Remained the group’s primary engine, contributing 72 percent of total net income.
- Revenues increased 12.1 percent to ₱58.78 billion.
- Puregold Price Club Inc. saw its own profit surge by 24 percent to ₱3.26 billion.
- Same-store sales grew by 5.4 percent, driven by larger basket sizes and increased customer traffic at S&R warehouse clubs.
- Liquor Distribution (The Keepers Holdings): Accounted for 18 percent of group income.
- Revenues reached ₱4.3 billion (up 6.1 percent).
- Net income grew 17.6 percent to ₱811 million, supported by a 4-percent growth in sales volume.
- Commercial Real Estate: Contributed the remaining share of earnings, maintaining steady performance in rental income and occupancy rates.
The company noted that while macroeconomic challenges—such as fluctuating fuel prices and global inflation—persist, the “essential” nature of its retail businesses provides a natural hedge. The growth in grocery sales particularly highlights a shift in consumer behavior toward bulk buying and value-oriented shopping.
The Cosco report comes amidst a flurry of Q1 corporate earnings:
- Manila Water: Reported a 24-percent profit surge for the same quarter.
- DMCI Holdings: Experienced a slight 2-percent slide in earnings, totaling ₱4.9 billion.
With its 100th Cindy’s store milestone (under its affiliate network) and the successful Q1 performance of its flagship brands, the Lucio Co-led conglomerate appears well-positioned to meet its 2026 growth targets as it eyes further expansion in provincial hubs.
