Top Line Business Development Corp. reported strong growth in first-half earnings and expects even higher gains in the second semester, which normally sees higher sales, while newly-acquired service stations will also start contributing to revenues.

The Visayas fuel distributor and retailer reported a 25.9 percent hike in net income to ₱76.26 million in the first half of 2025 from ₱60.55 million in the same period last year, driven by strong sales across both commercial and retail segments.

Topline posted ₱1.97 billion in gross revenues, up 26.2 percent year-on-year from ₱1.56 billion in the same period last year.

Commercial fuel trading remained TOP’s primary revenue driver, generating ₱1.91 billion in the first half, a 25 percent year-on-year increase from ₱1.53 billion in the corresponding period.

The retail fuel segment under Light Fuels Corp. contributed ₱63.93 million in revenues, which is an 85 percent leap from ₱34.53 million from the prior-year period, reflecting the company’s ongoing retail expansion and brand penetration.

“Our first half revenues and net income already represent 59 percent and 78 percent of our 2024 full-year results, respectively,” said Topline Chairman, President, and CEO Eugene Erik Lapasaran Lim.

He added that, “Retail fuel continues to deliver rapid growth, strengthening our revenue mix while our commercial fuel trading remains robust.”

“With historically higher sales volumes in the second half, we are confident in sustaining strong profitability through year-end,” Lim noted.

Liquid fuel sales volume rose by 38.3 percent to 44.43 million liters in the first six months of 2025, compared to 32.12 million liters in the same period last year.

This already represents 61 percent of the Company’s total 2024 sales volume of 72.4 million liters, underscoring sustained demand momentum.

In the second quarter of 2025, gross revenues grew 17.8 percent year-on-year to ₱972.81 million from ₱826.07 million, while net income climbed 16 percent year-on-year to ₱38.36 million from ₱33.07 million.

Commercial fuel trading contributed ₱940.24 million, up 16 percent from ₱807.14 million, while the retail segment sustained strong momentum, surging 71 percent to ₱32.36 million from ₱18.90 million.

Liquid fuel sales reached 22.65 million liters, up 31.5 percent year-on-year from 17.23 million liters in the same period last year.

The firm stressed that, results do not yet reflect the impact of retail station acquisitions made in July 2025. The new assets are expected to be reflected in the Company’s balance sheet in the third quarter of 2025.

“We remain bullish for a strong finish this year, backed by our strong and dynamic leadership and management team, and the recent expansion of our retail service station network, which will further strengthen our market position in the Visayas,” Lim said.

Last month, TOP acquired 38 stations from Total Oil & Gas Resources, Inc. (TOGRI) and Ballston Metro Corporation (BMC), along with an additional site from Phoenix Petroleum, expanding its operational network in the high-growth regions of Cebu, Leyte, Siquijor, and Negros Oriental.