August 06, 2013

Phoenix Petroleum posts 40% income growth in H1

Phoenix Petroleum Philippines posted a 40-percent increase in net income to P372.27 M in the first half of 2013, from P266.38  M the same period last year.

The company higher income was driven by improved consolidated revenues to P21.8 B, up 28% from P17 B in the first semester of 2012. After ending 2012 with 300 stations, the company’s network reached 343 stations in end-June. Of these, 203 are based in Mindanao, 41 in Visayas, and 99 in Luzon. - WealthSec