CEBU-BASED listed firm Top Line Business Development Corp. (Top Line) logged a record-high gross revenue of P3.35 billion for the fiscal year 2024, marking a significant 21 percent increase compared to the P2.78 billion reported in 2023.
The company also demonstrated substantial profitability growth, with net income reaching P115 million in 2024, a 49 percent surge from the P77 million recorded in the previous year.
Eugene Erik Lim, chairman, president and chief executive officer of Top Line, attributed this exceptional performance to the company’s dedication to “sustaining value creation through efficient operations, strong inventory management, and steadily expanding our customer base.”
The company’s fuel volume sales also experienced robust growth, with approximately 72.45 million liters of liquid fuels sold in 2024, representing a substantial 29 percent increase from the 56.2 million liters sold in 2023.
A testament to its effective inventory management, Top Line reported no write-downs to the net realizable value of inventories in 2024. Lim emphasized the company’s “strong inventory position, supported by reliable suppliers and a competitive pricing strategy,” which has enabled them to navigate fuel price fluctuations while ensuring consistent product availability and quality.
Following its recent listing on the Philippine Stock Exchange, Top Line has set its sights on deepening its presence in the high-growth region of Central Visayas. The company plans to strategically invest the P732.6 million in fresh capital raised from the listing to further expand its retail network and operational capabilities.
“We remain focused on our strategic initiatives on scaling our network and volume capacity to deliver quality fuel solutions to more communities in the region,” Lim said. / KOC