Looking at Phoenix Petroleum (PSE: PNX)
February 24, 2014 at 3:05 pm
Phoenix Petroleum Philippines, Inc. (PSE: PNX, the “Company”)
derives most of its revenues from trading refined petroleum products. In 2005 until the first half of 2009, PNX sourced its petroleum products mainly from PTT Philippines Corporation and Total Philippines Corporation. Starting from the second half of 2009 until the present, PNX imports refined petroleum products from Singapore, Taiwan and various foreign traders from Thailand, Korea, and China.
PNX has witnessed its revenue growing since 2006 albeit with low and declining profit margins:
As of the end of 2013, PNX has 209 stations in Mindanao, 47 in Visayas, and 112 in Luzon. Below is the growth of PNX’s retail stations:
PNX source substantial amount of revenues from sale of jet A1 fuel to Cebu Air, Inc. (PSE: CEB). PNX supplies more than 50% of CEB’s fuel requirements and handles all the logistical needs of CEB in Mindanao and partly in…
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Entry filed under: Phisix's Closet (PSEi).