DAVAO-BASED independent oil company Phoenix Petroleum Philippines, Inc. said net income in the first quarter of this year rose 11 percent to P282 million from P255 million recorded in the same period last year driven by a better sales mix and higher efficiencies.
In a disclosure to the local bourse, Phoenix Petroleum said revenues grew 35 percent to P8.7 billion in the first three months led by a 39 percent increase in fuel sales.
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