Topline Group of Companies, a Cebu-based conglomerate, expects revenues to rise 40 percent in 2024, driven by its core business of commercial fuel trade.
The company caters to a diverse clientele across key sectors such as transportation, construction, mining and agriculture, serving businesses throughout Cebu province.
“We are happy for the growth of the company for the past 11 years. I believe we had over 50-percent sales growth in 2023. We’re more than happy to achieve a 40 percent,” said Topline Group president and chief executive Erik Lim in a casual conversation in Makati City Tuesday.
Topline’s commercial fuel operations are anchored by its partnership with Pier 88, a smart port in Liloan, Cebu. The company supplies and procures fuel from its depot, ensuring a reliable and efficient supply chain for its clients.
The commercial fuel retailer plans to expand its storage capacity and respond to power/energy emergencies.
Topline is also accelerating the growth of its retail venture, Light Fuels Corp. The company plans to invest P150 million to open nine new fuel stations within the year, bringing its total to ten in Cebu. Two of these stations are set to open by August 2024.
Lim said the company is also future-proofing several planned stations to house electric vehicle charging components.
He also disclosed plans to set up fuel kiosks, two-pump fuel stations specifically for two-wheeled vehicles, on top of the regular fuel stations.
Since its inception 11 years ago, Topline has experienced remarkable growth and diversification across its subsidiaries.
“The growth of the company is all interconnected,” Lim said, emphasizing the synergistic relationship between Topline’s diverse business units.
