Fuel trading and retail firm Top Line Business Development Corp. has kicked off 2025 with strong earnings, reporting a 36% year-on-year increase in gross revenues for the first quarter, reaching PHP 1 billion. The company’s net income also rose 38% to PHP 37.9 million from PHP 27.5 million in the same period last year.
Driving the performance was a 46% surge in liquid fuel volume sales, totaling approximately 21.8 million liters for the quarter. The growth is attributed to expanded distribution networks, new commercial client acquisitions, and improved penetration in the retail market.
Top Line posted a gross income margin of 9.2% and a net income margin of 3.8% in Q1 2025—both slightly up from the previous year. The company credited its “competitive and responsive pricing strategies” for sustaining healthy margins.
The earnings report comes on the heels of Top Line’s recent market listing. On May 5, less than a month after debuting on the exchange, the company declared cash dividends of PHP 0.0032 per common share, payable on June 18 to shareholders of record as of May 22.
“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,” said Chairman, President, and CEO Eugene Erik Lim.
“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 added.
Top Line operates in the Visayas region through its subsidiaries Top Line Logistics and Development Corp. and Light Fuels Corporation, covering petroleum trading, depot operations, and retail fuel.
What’s your take on Top Line’s Q1 performance and its potential trajectory in the fuel trading and retail space? Join the conversation.
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