The consolidated core net income of listed Cosco Capital Inc. slightly declined in January to September to P6.47 billion from P6.5 billion in the same period last year. The group opened 16 Puregold stores, two S&R Warehouse Clubs and four S&R QSR in the nine months ending September. The liquor ban imposed, along with state-imposed quarantine restrictions, dragged the liquor distribution business’ revenues by 31.7 percent to P5.03 billion. Despite this, its net income inched up by 4 percent to P750 million due to the strategic cost control of its distribution, marketing and promotion expenses. Cosco shares shed 11 centavos or 2.04 percent to close at P5.28 apiece on Friday.

Source: Manila Times November 13, 2020 16:40 UTC