Top Line Business Development Corporation (Topline) is looking to expand its fuel industry operations to cater to the rising needs of retail and commercial users in the Visayas region.
In a report by Manila Bulletin, Chairman and CEO Erik Lim announced that a total of seven Light Fuels-branded service stations, plus two Light Fuels Express stations, are now under development, with the goal of eventually having ten gasoline service facilities.
Lim added that the company’s growth strategy has been centered on serving underserved market segments, aligning with Cebu’s swift economic development.
Light Fuels Express stations are designed to cater to motorcycle riders and lighter vehicles, which constitute a significant portion of Metro Cebu’s traffic.
Two Light Fuels service stations in Metro Cebu are set to commence operations this August, following the company’s first station opening in February last year.
Lim also said that the company is strengthening its operations through vertical integration, extending into retail and commercial fuel trading, and bolstering depot operations to meet Cebu’s increasing demand.
Topline entered into the oil industry in 2017, adding it to its roster of services originally focused on leasing and real estate. This move powered the firm to become a key player in liquid fuel distribution in Cebu province and Metro Cebu.
Topline’s diesel sales saw a 53% compounded annual growth from 2017 to 2023, contributing to a 33% increase in gross revenues last year, reaching Php 2.8 billion from Php 2.1 billion in 2022.
The company also reported a 9% revenue increase in the first quarter of this year compared to the same period last year.
