Cosco’s Q2 profit grew 21% on strong consumer demand

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Cosco’s Q2 profit grew 21% on strong consumer demand
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Cosco Capital Inc., the listed retail holding company of businessman Lucio Co, said Tuesday second-quarter consolidated net income grew 21 percent to P3.55 billion from P2.94 billion a year ago.

The positive second-quarter performance boosted first-half profit by 15.5 percent to P6.97 billion, compared to P6 billion a year earlier. “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 said.

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