Top Line Business Development Corp. said Friday net income last year surged 49 percent to P115 million, underscoring the strong growth trajectory of the Cebu-based oil and fuel distributor.
The company, which was recently listed on the stock exchange, said revenue rose 21 percent to an all-time high gross revenue of P3.35 billion.
Eugene Erik Lim, the chairman, president, and chief executive officer, attributed the record performance to the company’s focus on efficient operations, strategic inventory management, and its ability to expand its customer base. “Our record performance reflects Top Line’s commitment to sustaining value creation,” said Lim.
Fuel volume sales were a key driver, with approximately 72.45 million liters of liquid fuels sold in 2024, marking a 29 percent increase from 56.2 million liters in 2023. Despite the volatility in global fuel prices, Top Line managed to maintain stable product availability and quality, thanks to strong supplier relationships and a competitive pricing strategy.
Top Line also highlighted its disciplined inventory management, which resulted in no write-downs to the net realizable value of inventories in 2024. As part of its strategic growth, Top Line recently listed on the Philippine Stock Exchange, raising P732.6 million in fresh capital. The company plans to focus on expanding its retail network and operational capabilities, particularly in the high-growth Central Visayas region, to further solidify its position in the market.
