Lucio Co's Cosco Capital reports 15.5% profit growth in the 1st half of 2024

Lucio Co 
Cosco Capital Chair 

Tycoon Lucioo Co's conglomerate Cosco Capital’s first-half net income grew 15.5 percent to P6.97 billion, with revenues increasing 8.4 percent to P106.4 billion. 

Grocery retailing, which includes Puregold and S&R, contributed 71 percent of the total net income, amounting to P4.95 billion. 

This segment saw an 8 percent rise in sales to P98.5 billion, driven by store expansion and positive same-store sales growth. 

Conglomerate map of Cosco Capital. (From the company's corporate website) 

The liquor segment, led by The Keepers Holdings, posted a 23 percent increase in net income to P1.43 billion, with revenues up 19 percent to P7.7 billion, fueled by a 22 percent growth in sales volume, particularly from imported brandy. 

The commercial real estate segment experienced a 9.4 percent increase in rental revenues to P613 million, with net income rising 5 percent to P486 million, thanks to improved tenant operations and full rental rate resumption. 

The energy and minerals segment reported P172 million in revenues and P98 million in net income, while specialty retailing, through Office Warehouse, saw a 10.5 percent improvement in net income to P39 million despite a slight decline in revenues to P994 million.

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