C02966-2017

SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-C

CURRENT REPORT UNDER SECTION 17
OF THE SECURITIES REGULATION CODE
AND SRC RULE 17.2(c) THEREUNDER

1. Date of Report (Date of earliest event reported)
May 12, 2017
2. SEC Identification Number
147669
3. BIR Tax Identification No.
000-432-378
4. Exact name of issuer as specified in its charter
Cosco Capital, Inc.
5. Province, country or other jurisdiction of incorporation
Manila, Philippines
6. Industry Classification Code(SEC Use Only)
7. Address of principal office
No. 900 Romualdez St., Paco, Manila Postal Code 1007
8. Issuer's telephone number, including area code
(632) 522-8801
9. Former name or former address, if changed since last report
None
10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA
Title of Each Class Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
Common 7,375,408,964
11. Indicate the item numbers reported herein
Other Matters

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Cosco Capital, Inc.COSCO

PSE Disclosure Form 4-31 - Press Release References: SRC Rule 17 (SEC Form 17-C)
Section 4.4 of the Revised Disclosure Rules

Subject of the Disclosure

Press Release of Cosco Capital, Inc. entitled "Cosco Net Income up 8% to PHP 1.8 billion"
Background/Description of the Disclosure

Cosco Net Income up 8% to PHP 1.8 billion

May 12, 2017, Manila, Philippines – Cosco Capital, Inc., the retail holding firm of Mr. Lucio L. Co, reported a 12.3% growth in consolidated revenues to PHP 32.3 billion and consolidated net income growth of 8% to PHP1.8 billion during the first quarter of 2017.

Net Income attributable to equity holders of the parent company grew by 6.5% to PHP1.15billion. The group’s grocery retailing businesses, Puregold Price Club, Inc. and S&R Membership Shopping Club, contributed 56% of total profits, followed by the Commercial Real Estate segment with 22% and the Liquor Distribution with 12%. The group’s Specialty Retailing segment, composed of Liquigaz Philippines Corporation (“Liquigaz”) and Office Warehouse, Inc., accounted for 9% of net profit.

“Our first quarter results signal a good start for the year. We are hopeful that this positive trend will continue throughout 2017.” said Cosco Capital, Inc. President, Mr. Leonardo B. Dayao.

The Group’s grocery retail segment, Puregold Price Club, Inc. and S&R Membership Shopping Club, grew its Consolidated Revenues by 11.2% to PHP27.5 billion, while Consolidated net income increased by 10.5% to PHP1.28 billion. The group opened a total of 6 new Puregold stores and 1 new QSR during the first quarter. The group targets to open 25 new Puregold stores and 2 new S&R warehouses this year.

The Liquor Distribution business posted a 4% growth in revenues to PHP1.17 billion, on the back of a 29% increase in volume of cases sold during the first quarter. The company’s in-house brand, Alfonso brandy, continued to show impressive volume growth which more than compensated for the expected lower sales volume from the transitioning of a major brand during the first quarter of 2016.

For the specialty retailing businesses, Liquigaz revenues increased by 33% to PHP3 billion mainly driven by the gradual recovery in global LPG prices during the period. With its renewed focus in the downstream market, the company was able to increase its retail volume by 15% year-on-year from higher sales from its commercial and industrial accounts.

Office Warehouse, Inc.’s revenues grew by 18% to PHP440 million and is operating a total of 72 retail outlets. The company plans to add 10 new stores this year in order to cater to the growing demand for office, school, and technology products in the country.

The group’s Commercial Real Estate segment posted a slight decline of 4% in revenues to PHP552million, while net income increased by 8.9% to PHP256 million due to controlled operating expenses during the period.
Other Relevant Information

None
Filed on behalf by:
Name Candy Dacanay-Datuon
Designation Assistant Corporate Secretary