Cebu-based fuel company Top Line Business Development Corp. reported a 38 percent increase in net income for the first quarter of 2025 to P37.9 million compared to P27.5 million in the same period last year.
Top Line said in a statement its net earnings growth reflects robust inventory management and a sustained rise in fuel volume sales across its commercial and retail segments.
The company sold approximately 21.8 million liters of liquid fuels in the first quarter compared to 14.9 million liters in the same period last year, showing a 46 percent year-on-year increase.
This growth stems from strategic expansion, including an expanded distribution network with new commercial client acquisitions, high retention rates among existing customers, and improved retail market penetration.
Gross revenues went up 36 percent, reaching P1 billion in the first quarter, up from P738.7 million in the corresponding period last year.
“Our solid first-quarter performance and the decision to declare dividends reflect Top Line’s resilience and growth-oriented strategy amid current volatile market conditions. This salvo also underscores our unwavering commitment to sustainable growth and operational excellence,” Eugene Erik Lim, Top Lime chairman, president, and chief executive said.
“We are dedicated to sustaining this momentum and maximizing shareholder value as we pursue our strategic initiatives. With a clear vision for growth, we are well-positioned to capture emerging opportunities ahead,” Lim said.
