Cosco allots P7 billion for 2025 capex

MANILA, Philippines — Cosco Capital Inc., the listed retail holding firm of Lucio Co, is set to spend P7 billion this year to support the continued expansion of its business units.

Cosco deputy comptroller Gerry Teofilo said the group’s P7-billion capital expenditures budget for 2025 signifies its commitment to grow following a strong performance last year.

Teofilo said the bulk of the budget would be allotted for the expansion of the grocery retail segment’s store network, while a portion of the expenditures will be assigned to the real estate group and Office Warehouse.

Puregold Price Club has earmarked P6.35 billion for its capex budget for this year, in which P1.9 billion will be used for 30 new Puregold stores and P3 billion for three S&R Warehouses and 14 S&R quick service restaurants.

Puregold will also be investing P1.25 billion for maintenance capex, solar projects and IT upgrades, while P200 million will be used for logistics capex.

“Cosco Capital has emerged from the pandemic in an even stronger position, which is a testament to the breadth of our portfolio,” Teofilo said.

“As the leading retail and investment holding company, we will continue to pursue strategic growth guided by our mission of enriching Filipino lives through our quality products and excellent services,” he said.

In 2024, Cosco registered a net income of P15.5 billion, a 25-percent jump year-on-year amid strong operating performance of major business segments.

The momentum has been sustained by the company during the first quarter, with net income increasing by 7.6 percent to P3.68 billion.