Phoenix Petroleum reports 26% rise in 2012 revenue to P34.7B

Phoenix Petroleum Philippines Inc. on Tuesday revealed a 26-percent increase in 2012 revenue to P34.7 billion from P27.5 billion a year earlier.

 

“The growth comes from the expansion of the independent oil company’s retail network and increase in sales from its retail and commercial and industrial accounts,” Phoenix Petroleum noted in a disclosure to the Philippine Stock Exchange.

 

Fuel sales volume rose 26 percent in the same comparable period, the company said.

 

From a 5.4 percent oil industry market share in 2011, the company expanded its shares to around 6 percent last year.

 

As of end December 2012, Phoenix Petroleum noted registering 300 retail stations—191 in Mindanao, 21 in the Visayas, and 88 in Luzon, with plans to further expand its network this year. — VS, GMA News