THE Davao-grown oil company, Phoenix Petroleum Philippines, continues to expand brought about its strong performance in 2017 and diversification of its business.
Phoenix Petroleum Philippines Vice President of External Affairs Alan Raymond T. Zorilla said the company considers 2017 as its banner year with the great developments they have experienced.
"We've reached net income of P1.4 billion and emanating from more than P44 billion in gross revenues. Also, we have a record of almost P1.8 billion liters of fuel sold for last year. And for those who invested in the company, who put their hard-earned money in the stocks of Phoenix, we are happy to announce that the stock price of Phoenix grew by 128 percent due to its performance. From a mere P5.70 in January 2017, it ended in December 29, 2017 with a price of P13, so you have almost P8 income per share. It was really a banner year for us," said Zorilla, adding their sales are growing on an average of 17 percent year on year.
Phoenix Petroleum Philippines has cornered 5.7 market shares.
According to Zorilla, some of the major companies have already decreased their shares to just less than 60.
"From 100 percent 20 years ago, their market share is now less than 60. So the independence have gained ground and we are happy to say, modesty aside, that we are battling as the third strongest oil company in the world," he said.
Aside from their sales and their stock price, Zorilla also said their continued development is seen on the many gasoline stations that they have nationwide.
At present, there are 530 Phoenix Petroleum gasoline stations nationwide. The company plans to establish more regional offices across the country in the coming years.
They have a trading office in Singapore -- the Phoenix Petroleum Singapore Properties, Ltd. which oversees and takes care of the company's import requirements, as well as catering to other oil industry players.
The company had also acquired and had partnered with big retail players from different industries in order to further expand their network. Just this year, they have completed the acquisition of Philippine Family Mart which they target to establish across the country.
Zorilla also announced their joint venture agreement with Tipco Asphalt of Thailand and PhilAsphalt, primarily brought about by the huge demand of construction materials for the Build, Build, Build program of the current administration.
"We see that asphalt is also another line of product for our ever-growing company and it will also add to the revenues and provide alternative to the other asphalt suppliers in the country," he said.
Other acquisition that Phoenix Petroleum Philippines had is the former LPG Petronas, which they now call as the Phoenix Super LPG, which he said has gained a lot of market shares in Visayas and in Mindanao. They are slowly bringing the product in Luzon appointing about six big distributors in Luzon.