Phoenix Petroleum cited in HK magazine poll

Independent oil player Phoenix Petroleum Philippines was cited as among the best small cap companies in the Philippines, according to a regional survey of investors and analysts.

Hong Kong-based magazine “Finance Asia” tallied votes from 256 investors and analysts across Asia for its 12th annual poll of Asia’s “best managed” companies.

In a statement, Phoenix Petroleum said it ranked third on the list of best small cap companies, after EEI Corp. and Jollibee Foods Corp.

“We are honored and humbled to be recognized as one of the best companies in the country, alongside bigger and more established ones,” said Phoenix president and CEO Dennis Uy.

Phoenix Petroleum posted an all-time high quarter performance in the first three months of 2012 with revenue of P8.3 billion, 35 percent higher than the P6.1 billion in the same period last year. Net income for the quarter reached P190.6 million.

Volume increased by 23 percent year on year, with commercial accounts posting strong growth and its retail network expanding to 240 stations nationwide.