Top Line Business Development expands to 50 service stations by end-2025

Top Line Business Development Corp., celebrating its 12th anniversary and holding its first annual stockholders' meeting as a publicly listed company in Cebu City, announced plans to expand with 50 service stations by the end of 2025.

The company upgraded its earlier target from its initial public offering (IPO) prospectus, aiming for 30 stations by 2026, and recently acquired a gasoline station in Consolacion, Cebu from Phoenix Petroleum Philippines Inc. for P8.5 million.

Light Fuels Corp., Top Line's retail fuel subsidiary, currently operates four stations and has eight more in various stages of development across Metro Cebu and Cebu province, with the company targeting 50 Light Fuels-operated stations by year-end.

Top Line also acquired 38 stations from Total Oil & Gas Resources Inc. and Ballston Metro Corp., expanding its operational network to 50 stations by year-end and enhancing logistics capacity with a two-million-liter depot in San Jose, Negros Oriental, and an additional 15 tanker trucks.

The company's gross revenue rose by 36% to about P1 billion in the first quarter from P738.7 million in the previous year, driven by higher fuel sales.