TOP delivers strong first half revenues at P1.97 billion, up 26.2% y-y driven by higher fuel sales volume
Recent acquisition of retail stations anticipated to contribute to revenue growth by Q3 Listed fuel distributor and retailer Top Line Business Development Corp. (“TOP” or the “Company”) posted strong first half 2025 performance, reporting P1.97 billion in gross revenues, up 26.2% year-on-year from P1.56 billion in the same period last year. Net income climbed 25.9% […]
Top Line gears for expansion with 50 stations by end-2025, raises initial IPO targets
Flexible expansion strategy ramps up horizontal expansion with acquisition while continuing construction of Light Fuels stations Top Line Business Development Corp. (“TOP” or the “Company”) marks its 12th anniversary and first Annual Stockholders’ Meeting as a listed company with a strong commitment to expansion, targeting 50 service stations operated by Light Fuels Corporation, its retail […]
Top Line accelerates Visayas expansion with 38 retail stations, depot storage, and tanker fleet acquisition
Top Line Business Development Corp. (“Top Line” or the “Company”) has acquired 38 retail fuel stations, a two-million-liter depot facility, and 15 fuel tanker trucks from Total Oil & Gas Resources, Inc. (TOGRI) and Ballston Metro Corporation (BMC). The Company is investing approximately P925 million for the acquisition and renovation of the stations, accelerating the […]
Top Line starts 2025 with strong momentum: Q1 revenues grow 36% y-y, reaching P1 billion
Top Line Business Development Corp. (“Top Line” or the “Company”) begins 2025 with double-digit earnings. The Company reported a 36% year-on-year increase in gross revenues, reaching P1 billion in the first quarter of 2025, up from P738.7 million in the corresponding period last year. Meanwhile, net income grew by 38% year-on-year at P37.9 million in […]
Top Line reports record-high P3.35 billion in gross revenues and P115 million in net income for 2024
Double-digit growth earnings fueled by higher volume turnover and strong inventory management Top Line Business Development Corp. (“Top Line” or the “Company”) posted an all-time high of P3.35 billion in gross revenues for 2024, marking a 21% increase from P2.78 billion in 2023. The Company also recorded a 49% year-on-year growth in net income, reaching […]
Top Line shrugs off volatility; IPO raises P732M
MANILA, Philippines – After eight years, Cebu City has a new representative in the local bourse via fuel retailer Top Line Business Development Corp., the first company to brave the highly volatile stock market this year.
Top Line launches first IPO of 2025
MANILA, Philippines – Fuel retailer Top Line Business Development Corp. on Tuesday completed the first initial public offering (IPO) of the year, a day after global markets tumbled as a result of US President Donald Trump’s “Liberation Day” tariffs.
Top Line’s IPO oversubscribed, successfully lists on PSE
Top Line Business Development Corp. (“Top Line” or the “Company”) has successfully debuted on the Philippine Stock Exchange (PSE) through its initial public offering (IPO) of 2,148,440,000 primary common shares with an overallotment option of up to 214,844,000 secondary shares at a price of PHP 0.31 per share. Receiving strong market interest from both local […]
Top Line receives SEC’s grant of permit to sell for IPO
Top Line Business Development Corp. (“Top Line” or the “Company”) is pleased to announce that the initial public offering (IPO) of approximately 22% of its common shares has obtained final regulatory approval. The Securities and Exchange Commission (SEC) has officially approved Top Line’s registration of common shares on March 21, 2025, granting an Order of Registration and a Permit to Sell. This […]
Top Line repositions IPO proceeds for expansion
P764.2 million in net proceeds from primary offer shares to support vertical integration, providing reliable fuel supply in the high-growth Central Visayas region Top Line Business Development Corp. (Top Line) has adjusted the allocation of expected proceeds from its initial public offering (IPO) to align more closely with its near-term strategic expansion initiatives. This […]