Phoenix Petroleum Philippines Inc. saw its net profit rise by 33 percent in this year’s first half owing to stronger sales compared to the same period last 2015. Phoenix attributed the growth to the 46 percent increase of its fuel sales volume from retail station and segment sales. Commercial, industrial, and aviation segment sales rose by 59 percent while retail station sales went up by 26 percent .
No specific income figures were provided.
The firm said it has been focusing on expanding its retail station network in the country. From 454 stations in late 2015, the number of its station increased to 489 by the end of June
To further support the expansion, Phoenix said it will continue to improve its infrastructure, logistics, and storage capabilities. During the first half of this year, the oil company added two new tankers and a number of road fuel tankers to its fleet.
