Diversification eases Phoenix’ transition

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Phoenix Petroleum Philippines Inc. said its diversification from core petroleum operations and repositioning towards high growth, high margin businesses has helped it transition to the new normal.

The company said its investments in liquefied petroleum gas (LPG) and FamilyMart have offset the current low margins for fuel.

Phoenix Petroleum now generates around 45 percent of domestic revenues from these businesses.

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Henry Albert Fadullon, Phoenix president, said in a statement the company now has 20,000 touchpoints comprised of service stations, LPG and lubricant retail outlets, FamilyMart stores and Posible retailers with a reach of over 1.2 million customers.

“We need to adapt our core business to changes and disruptions in markets. Commercial accounts fuelled our growth over the last decade but going forward, retail is going to be the major force driving Phoenix. We are building this capability beyond fuels and we aim to further expand this portfolio with high growth, high margin consumer brands over time,” Fadullon added.

At present, Phoenix Petroleum has over 660 retail stations, 11 storage facilities, 72 FamilyMart stores and two main business offices.

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