Monday 22 January
Powered by Ajaxy
Nov 13, 2017 @ 20:53

LPG acquisition fires up Phoenix’s net earnings

 

Phoenix Petroleum Philippines Inc. of bilyonaryo Dennis Uy managed to post higher profits as of the end of September with the addition of liquefied petroleum gas in its business.

Phoenix Petroleum reported d a 59 percent jump in net income to P1.437 billion. Core earnings rose nine percent to P1.08 billion.

Revenues from the core petroleum business were up 37 percent to P32.6 billion on the back of robust volume growth in retail, lubricants, and LPG.

During the period, it completed 523 Phoenix retail service stations and also continued to acquire new commercial direct accounts, while expanding its market share within existing accounts, including power, shipping, logistics, transportation, and manufacturing, among others.

“Phoenix Petroleum’s strong performance in the third quarter shows our commitment to growing the business through customer focus, operational excellence, and acquisition of complementary businesses,” said Phoenix Petroleum president and CEO Dennis Uy.

Tags: , , , , , , , ,

Related Stories
China's box-office revenues surged in 2017 after slowing sharply the preceding year, official media reported,
The Securities and Exchange Commission has approved PAL Holdings' application for quasi-reorgnization, which involves the
The Philippine government had more to spend after agencies posted double-digit growth in revenue collections.
The newly-signed tax reform package will raise new revenues despite lower tax rates for income


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - bilyonaryo.com.ph.