Top Line Business Development Corp. has reported a record-breaking PHP 3.35 billion in gross revenues for 2024, up 21% from the previous year, driven by surging fuel sales and strong inventory control. The company’s net income jumped 49% to PHP 115 million, cementing its most profitable year to date.
A fresh catalyst behind this growth was Top Line’s recent listing on the Philippine Stock Exchange. The move brought in PHP 732.6 million in fresh capital, which the Cebu-based fuel player is channeling toward expanding its retail and operational footprint across Central Visayas — a region it sees as high-growth.
“Our record performance reflects Top Line’s commitment to sustaining value creation through efficient operations, strong inventory management, and steadily expanding our customer base,” said Eugene Erik Lim, Chairman, President, and CEO.
Fuel volume sales soared 29% year-on-year, with 72.45 million liters sold in 2024, up from 56.2 million liters in 2023. Notably, the company avoided any inventory write-downs, highlighting its pricing and supply discipline.
“Our strong inventory position, supported by reliable suppliers and a competitive pricing strategy, has allowed us to navigate fuel price volatility while ensuring quality, consistent product availability,” Lim added.
The company said it remains committed to scaling its network and reaching more communities in the Visayas region.
What do you think of Top Line’s aggressive growth strategy post-IPO? Let’s discuss.
Follow Power Philippines on Facebook and LinkedIn for more updates.
There are no comments
Add yours