Phoenix targets 47 new stations in Minda, reports revenue increase by 85 percent

By Carlo P. Mallo

Independent oil player, Phoenix Petroleum, seeks to further strengthen its position in Mindanao by establishing 47 new stations this year.
In a press conference Friday, Phoenix president and CEO Dennis Uy said that the company is already the number one brand in Mindanao, while it is currently number four nationwide after Pilipinas Shell, Petron, and Caltex Chevron.
“Aside from strengthening our operations and systems, we are ensuring that our team has the capability, passion, and determination to excel and bring our company forward,” Uy said. “As we focus on further growing our business, we will strengthen our relationships with dealers and business partners and provide the best customer experience.”
Phoenix Petroleum also announced that they have recorded an 85% increase in revenue to P27.5 billion in 2011 as a result of the expansion of their retail network and growth in sales from commercial and industrial accounts. Net recurring income rose 19% from P427 million to P510 million.
In 2011, Phoenix Petroleum completed the expansions of their facilities in Davao City and Calaca, Batangas. The company opened its most modern installation yet in Cagayan de Oro last November. It will inaugurate its depot in Bacolod this March to support growth in Visayas.
Last January, Phoenix completed the acquisition of Subic Petroleum Trading and Transport Philippines, to enable expansion in the northwest and parts of Central Luzon, and establish operations inside the Subic Bay Freeport Zone.