Top Line Business Development Corp., the Cebu-based oil distributor, reported a 38 percent year-on-year increase in net income, reaching P37.9 million in the first quarter, buoyed by robust fuel sales and strategic network expansion.
Gross revenues climbed 36 percent to P1 billion, driven by a 46 percent surge in liquid fuel volumes sold, totaling 21.8 million liters. This volume growth stemmed from new commercial client acquisitions, improved retail penetration, and strong customer retention.
Top Line said inventory efficiency and responsive pricing strategies contributed to maintaining healthy margins, with gross income margin rising slightly to 9.2 percent to and net income margin improving to 3.8 percent, up from 9 percent and 3.7 percent, respectively, in the previous year.
The listed company’s performance highlights its resilience amid market volatility, demonstrating operational agility and earnings consistency just weeks after its market debut. As a show of confidence, it declared a cash dividend of P0.0032 per share, payable on June 18 to shareholders of record as of May 22. The payout will come from unrestricted retained earnings as of end-2024.
Chairman and CEO Eugene Erik Lim said Top Line is committed to sustainable growth and value creation, citing the strong quarter as a launchpad for future gains. “We are well-positioned to capture emerging opportunities ahead,” Lim said.
