Top Line Business Development Corp. (PSE: TOP) reported a 26% increase in net income to PHP 76.26 million for the first half of the year versus a year ago, with revenues also rising 26% to PHP 1.97 billion compared to the same period in 2024.

For the second quarter alone, the company registered a net income of PHP 38.36 million, up 16% year on year, as revenue grew 18% to PHP 972.81 million.

The balance sheet expanded, with total assets at PHP 4.01 billion as of June 30, 2025 versus PHP 3.13 billion at end-2024. Stockholders’ equity rose to PHP 1.65 billion from PHP 0.98 billion, lifting book value per share to PHP 0.18 from PHP 0.11. Current assets stood at PHP 3.02 billion.

Top Line is pushing ahead with the expansion of its Light Fuels retail network and is set to operate 50 stations by end-2025—outpacing its IPO goal of 30 stations by 2026. 

In July, the company closed a PHP 925-million fuel acquisition from Total Oil & Gas Resources, Inc. and Ballston Metro Corporation, covering 38 stations, a two-million-liter depot in San Jose, Negros Oriental, and 15 tanker trucks, broadening its reach in Cebu, Leyte, Siquijor, and Negros Oriental.

With an expanded retail footprint and a growing asset base, how might Top Line’s strategy shape fuel availability and distribution efficiency in the Visayas–Mindanao market? 

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