Jetti Petroleum says first half revenues jump 15% on sheer sales volume

Independent oil player Jetti Petroleum Inc. on Tuesday said revenues jumped by nearly a fifth in the first semester on the back of higher sales volume.

 

In an e-mailed statement, Jetti said gross revenues grew by 18 percent to P6.65 billion from P5.64 billion in the same period last year.

 

Revenues increased on the back of higher sales volume – which rose to 174.4 million liters from 157.9 million liters – as well as the full utilization of its Tagoloan bulk terminal and the opening of four new stations. 

 

“The company is positive about this development, as it is an encouraging sign that the potential for growth is truly there for all industry players,” Jetti Corporate Affairs manager Leo Bellas said in the statement.

 

This year, the company expects a further boost in sales once new stations start to operate.

 

“The company is optimistic that, given our current performance, we will meet our projected gross revenue of P14 billion for 2014,” Bellas said. – Danessa O. Rivera/VS, GMA News