Listed fuel distributor and retailer Top Line Business Development Corp. (TOP) maintained its strong momentum in the first nine months, with gross revenues climbing 27 percent to P3.09 billion from P2.44 billion a year earlier. Net income rose 21 percent to P109.57 million, fueled by strong revenue growth from its retail operations and sustained gains in commercial fuel trading.
“Our performance reflects deeper retail market reach and growing demand for reliable fuel across the Visayas,” said Eugene Erik Lim, TOP chairman, president, and CEO. “We’ve already exceeded last year’s earnings and expect an even stronger finish as we expand and integrate new stations.”
Retail arm Light Fuels Corp. delivered standout results, with revenues up 152 percent to P132.08 million and fuel volume soaring 168 percent to 2.73 million liters. Commercial fuel trading, still TOP’s main growth engine, increased 24 percent to P2.96 billion, with volume up 33 percent to 68.74 million liters.
In the third quarter alone, TOP booked P1.12 billion in revenues, up 28 percent year-on-year, and net income of P32.7 million, up 9 percent. Retail fuel sales skyrocketed 282 percent to P68.1 million, while total liquid fuel volume rose 25 percent to 24.32 million liters.
To support expansion, the board approved the reclassification of 800 million unissued common shares into preferred shares, paving the way for future capital-raising, pending stockholder approval on December 2, 2025.
Subsidiary Topline Logistics and Development Corp. also secured customs registration for fuel importation — a move aimed at improving cost efficiency, strengthening supply chains, and expanding storage capacity as TOP fuels its rapid growth across the Visayas.
