Phoenix returns to profitability in Q2

Homegrown oil firm Phoenix Petroleum Philippines, Inc. returns to profitability with a internet revenue of Php 201 million for the second quarter, its highest because the onset of the pandemic. Progressively recovering from the loss within the first quarter, positive factors from its abroad companies and continued OPEX self-discipline throughout the Group grew EBITDA by 67% quarter-on-quarter.

“We had a troublesome begin this 12 months, however we have gained some traction, and are seeing favorable outcomes from our methods. Improved margins and our sustained prudence are paying off, and we’re in a greater place to domesticate development because the market additional recovers,” stated Phoenix Petroleum President Henry Albert Fadullon.

Carry on studying: Phoenix returns to profitability in Q2

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