Phoenix Petroleum to beat 2016 performance
Phoenix Petroleum Philippines Inc. of businessman Dennis Uy is confident it will surpass its performance last year in terms of sales and profit with the continued growth of its retail and commercial business.
Company COO Henry Albert Fadullon said the newly-acquired liquefied petroleum gas (LPG) business would also start contributing to Phoenix’s bottomline this year.
Phoenix acquired Petronas Energy Philippines Inc., which holds the Petronas LPG brand in the country.
We want to grow the business this year, top line and bottom line against last year,” Phoenix Petroleum COO Henry Albert Fadullon said.
He said Phoenix now has a network of 518 service stations and more are still under construction.
The company also covers 21 percent of the commercial business, with corporate clients in power, aviation, mining, manufacturing, and marine.