Petron H1 profit up threefold on strong sales

OIL refiner and retailer Petron Corp. said its net profit in the first half increased nearly threefold to P3 billion from P1.1 billion in the same period last year on the back of higher sales in both its Philippine and Malaysian operations.

Revenue in the first half climbed 18 percent to P258.2 billion from P218.8 billion last year as sales volume in the two countries rose by a combined 8 percent to 43.1 million barrels.