MANILA, July 21 (PNA) -– Phoenix Petroleum Philippines has gained a consolidated net income of Php425 million for the first half (H1) of 2015.
In a disclosure from the Philippine Stock Exchange (PSE) Tuesday, Phoenix said that its sales volume growth ”resulted in a consolidated net income of Php425 million for the first half of 2015, an increase of 5.82 percent against last year’s performance.”
Sales volume growth has been better at 25 percent, mainly driven by its increased retail stations sales by 31 percent and higher commercial, industrial and aviation sales by 29 percent.
Its Commercial sales, comprising of shipping, fishing, mining, power and transportation accounts, also sustained growth this year.
Phoenix reported its retail station network has grown from 418 stations in 2014 to 443 as of June 30, with 223 based in Mindanao, 61 in Visayas, and 158 in Luzon. It added at least 3 million vehicles visits its stations monthly.
Meanwhile, the conglomerate stressed it will continue to expand its logistics, storage and infrastructure -– to further support its network expansion, including its commercial and industrial clients.
Last May 11, Phoenix reported a growth of 9 percent for the first quarter of 2015 versus 2014.
It also had a consolidated net income of Php230 million for the period, which was driven by a sales volume growth from its retail segment.
Phoenix is engaged in trading refined petroleum products, oil depot operations and storage facilities, shipping and logistics and other allied services. (PNA)