Keepers, Cosco profits increase

Tycoon Lucio L. Co’s retail holding firm Cosco Capital, Inc. and The Keepers Holdings Inc. (Keepers), the Philippines’ largest imported liquor distributor, reported strong double-digit profit growth for 2024.

- By JAMES A. LOYOLA

In a disclosure to the Philippine Stock Exchange, Cosco reported a 25 percent hike in consolidated net income to P15.5 billion for 2024 versus P12.4 billion a year ago.

It noted that strong operating performance from major business segments lifted consolidated revenues by 10.5 percent to P237 billion last year from P214.5 billion in 2023.

“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,” Cosco Capital said.