Phoenix Petroleum Philippines Inc. posted a 47-percent increase in net income in 2015 to P905.9 million from P616.4 million in the previous year on higher sales volume.
Phoenix Petroleum disclosed to the Philippine Stock Exchange fuel sales volume rose 27 percent in 2015, while units performed well .
It said subsidiaries reported a combined net income of P319 million from Phoenix Petroterminals and Industrial Park Corp. and Chelsea Shipping Corp., higher than P134 million in 2014.
The industrial park contributed P190 million in income from park operations and sale of land in its industrial park in Calaca, Batangas, while Chelsea Shipping contributed P129 million from its ship chartering operations.
PPIPC owns and operates an industrial park in Calaca, Batangas, which houses several companies in industries such as petroleum, chemicals, steel, power and salt.