PHOENIX Petroleum has recorded in the second quarter of 2021 its all-time-high quarterly volume, while maintaining prudence in operating expenditure (Opex) and capital expenditure management, accelerating the company’s growth with earnings before interest, taxes, depreciation, and amortization up 73 percent from the prior quarter to P1.07 billion. Revenues rose 38 percent, while Opex per liter was down by 17 percent.
Net income was up nine percent to P132 million. Overall volume grew 32 percent from the prior quarter as the growth of the domestic business picks up pace. Domestic volume rose 27 percent quarter-on-quarter.
Station count of Phoenix in the second quarter stood at 680. (PR)